👉 If you like what you hear in this video, be sure to SUBSCRIBE: alarming legislation circulating Congress that would create a new capital gains tax… it’s got support, too! Aggressive progressive tax reform like this was actually promised on the campaign trail and if implemented, would cause serious investment challenges.
I’m specifically referring to President Joe Biden's, US Treasury Secretary Janet Yellen's and Chair of the Senate Finance Committee Ron Wyden's new proposal to tax unrealized capital gains.
While all eyes are currently on COVID-19 relief, health care, immigration, infrastructure, climate change, and clean energy, no one is paying attention to this dangerous idea.
If passed… it could be the death of investing for many!
For younger and upstart investors... investing will essentially be dead! I’ll break down what we know about the investment challenges that it would be sure to create.
Oh! And they're comin' after your 401K next!
But first... let's look at this unrealized capital gains tax proposal.
...and please! Don't shoot the messenger.
Timestamps:
1:14 - Why this aggressive tax reform could change everything for investors.
2:46 - How this new proposal specifically harms younger, upstart investors.
3:26 - The true investment challenges that this new proposal would create.
3:48 - Why annually liquidating assets hurts compound interest and spells doom for the traditional 40-year savings plan.
4:16 - Why your 401K could soon be on the chopping block as well.
5:20 - How capital losses will be handled if the unrealized capital gains tax actually goes into effect.
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NO INVESTMENT, FINANCIAL, LEGAL OR TAX ADVICE
The contents of this video are for informational and educational purposes only. They should not be considered investment, financial, legal or tax advice. Matt Theriault is not licensed in the insurance or securities industries and is not in the business of selling, soliciting or negotiating the sale of any insurance contract, security or other investment vehicles.
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