{"id":921504,"date":"2021-10-25T17:29:35","date_gmt":"2021-10-25T21:29:35","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=921504"},"modified":"2021-10-25T17:29:36","modified_gmt":"2021-10-25T21:29:36","slug":"treasury-secretary-janet-yellen-democrats-considering-to-impose-a-tax-on-unrealized-capital-gains","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/treasury-secretary-janet-yellen-democrats-considering-to-impose-a-tax-on-unrealized-capital-gains\/","title":{"rendered":"Treasury Secretary Janet Yellen: Democrats Considering To \u2018Impose A Tax On Unrealized Capital Gains\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftreasury-secretary-janet-yellen-democrats-considering-to-impose-a-tax-on-unrealized-capital-gains%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=921504&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Treasury Secretary Janet Yellen told CNN\u2019s Jake Tapper on Sunday that Senate Democrats are considering a proposal to impose a tax on unrealized capital gains of the wealthiest Americans.<\/p>\n<p>Yellen made the remarks in response to a question from Tapper about whether a wealth tax should be part of how Democrats look to pay for Biden\u2019s $3.5 trillion social spending bill.<\/p>\n<p>\u201cWell, I think what\u2019s under consideration is a proposal that Senator Wyden and the Senate Finance Committee have been looking at that would impose a tax on unrealized capital gains, on liquid assets held by extremely wealthy individuals, billionaires,\u201d Yellen responded. \u201cI wouldn\u2019t call that a wealth tax. But it would help get at capital gains, which are an extraordinarily large part of the incomes of the wealthiest individuals, and right now escape taxation, until they\u2019re realized, and often they\u2019re unrealized in the death benefit from a so- called step up of basis.\u201d<\/p>\n<p>\u201cSo, it\u2019s not a wealth tax, but a tax on unrealized capital gains of exceptionally wealthy individuals,\u201d she added.<\/p>\n<p>Yellen went on to <a href=\"https:\/\/www.dailywire.com\/news\/treasury-secretary-janet-yellen-signals-trouble-over-how-long-inflation-will-continue-to-remain-high\">say<\/a> late in the interview that high rates of inflation would continue to remain a problem for the U.S. well into next year, adding, \u201cwe are going through a period of inflation that\u2019s higher than Americans have seen in a long time.\u201d<\/p>\n<p>WATCH:<\/p>\n<p lang=\"en\" dir=\"ltr\">NEW \u2013 U.S. Treasury Secretary Yellen proposes a tax on unrealized capital gains to finance Biden&#8217;s &#8220;Build Back Better&#8221; plans.<a href=\"https:\/\/t.co\/pefi3PhoDe\">pic.twitter.com\/pefi3PhoDe<\/a><\/p>\n<p>\u2014 Disclose.tv (@disclosetv) <a href=\"https:\/\/twitter.com\/disclosetv\/status\/1452422986015944711?ref_src=twsrc%5Etfw\">October 24, 2021<\/a><\/p>\n<p>TRANSCRIPT PROVIDED VIA CNN:<\/p>\n<p><em>JAKE TAPPER, CNN HOST: You just heard Speaker Pelosi. She floated some new ways to pay for this bill, such as a wealth tax, because it does appear that the plans to raise the corporate tax rate and raising the tax rate for top wage earners are out.<\/em><\/p>\n<p><em>With those off the table, can you still guarantee that this bill is going to be paid for?<\/em><\/p>\n<p><em>JANET YELLEN, U.S. TREASURY SECRETARY: As the speaker noted, we have a variety of different ways to raise revenue.<\/em><\/p>\n<p><em>And, all in all, it should be relatively straightforward to raise the revenue necessary to pay for this bill. The final package exactly, what\u2019s in and out hasn\u2019t been decided. That\u2019s being negotiated now.<\/em><\/p>\n<p><em>TAPPER: Do you think that a wealth tax will be part of it? And can you explain what that would look like?<\/em><\/p>\n<p><em>YELLEN: Well, I think what\u2019s under consideration is a proposal that Senator Wyden and the Senate Finance Committee have been looking at that<\/p>\n<p><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Treasury Secretary Janet Yellen told CNN\u2019s Jake Tapper on Sunday that Senate Democrats are considering a proposal to impose a tax on unrealized capital gains of the wealthiest Americans.Yellen made the remarks in response to a question from Tapper about whether a wealth tax should be part of how Democrats look to pay for Biden\u2019s $3.5 trillion social spending bill.\u201cWell, I think what\u2019s under consideration is a proposal that Senator Wyden and the Senate Finance Committee have been looking at that would impose a tax on unrealized capital gains, on liquid assets held by extremely wealthy individuals, billionaires,\u201d Yellen responded. \u201cI wouldn\u2019t call that a wealth tax. But it would help get at capital gains, which are an extraordinarily large part of the incomes of the wealthiest individuals, and right now escape taxation, until they\u2019re realized, and often they\u2019re unrealized in the death benefit from a so- called step up of basis.\u201d\u201cSo, it\u2019s not a wealth tax, but a tax on unrealized capital gains of exceptionally wealthy individuals,\u201d she added.Yellen went on to say late in the interview that high rates of inflation would continue to remain a problem for the U.S. well into next year, adding, \u201cwe are going through a period of inflation that\u2019s higher than Americans have seen in a long time.\u201dWATCH:NEW \u2013 U.S. Treasury Secretary Yellen proposes a tax on unrealized capital gains to finance Biden&#8217;s &#8220;Build Back Better&#8221; plans.pic.twitter.com\/pefi3PhoDe\u2014 Disclose.tv (@disclosetv) October 24, 2021TRANSCRIPT PROVIDED VIA CNN:JAKE TAPPER, CNN HOST: You just heard Speaker Pelosi. She floated some new ways to pay for this bill, such as a wealth tax, because it does appear that the plans to raise the corporate tax rate and raising the tax rate for top wage earners are out.With those off the table, can you still guarantee that this bill is going to be paid for?JANET YELLEN, U.S. TREASURY SECRETARY: As the speaker noted, we have a variety of different ways to raise revenue.And, all in all, it should be relatively straightforward to raise the revenue necessary to pay for this bill. The final package exactly, what\u2019s in and out hasn\u2019t been decided. That\u2019s being negotiated now.TAPPER: Do you think that a wealth tax will be part of it? And can you explain what that would look like?YELLEN: Well, I think what\u2019s under consideration is a proposal that Senator Wyden and the Senate Finance Committee have been looking at that would impose a tax on unrealized capital gains, on liquid assets held by extremely wealthy individuals, billionaires.I wouldn\u2019t call that a wealth tax. But it would help get at capital gains, which are an extraordinarily large part of the incomes of the wealthiest individuals, and right now escape taxation, until they\u2019re realized, and often they\u2019re unrealized in the death benefit from a so- called step up of basis.So, it\u2019s not a wealth tax, but a tax on unrealized capital gains of exceptionally wealthy individuals.The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-921504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/921504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=921504"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/921504\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=921504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=921504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=921504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}