The 16th Amendment says Congress has the power to “lay and collect taxes on incomes, from whatever source derived.” And that has been understood to mean that the government may impose taxes on wages or earnings and stock dividends, but not on property or corporate wealth that grows in value. These are referred to as “unrealized gains.”
Investing is now “unrealized gains” to politicians.
Investing is now “unrealized gains” to politicians.
Thankfully we can just end this all now by abolishing the 16th. And the 19th while we are at it.