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BILLIONAIRE TAX FACES HURDLES

WASHINGTON – A proposal released Wednesday morning would tax the paper investment gains of the ultra-wealthy. The idea is to capture revenue from billionaires whose “tradable” assets — like stocks — appreciate in value each year without being taxed. Under current law, those gains aren’t “realized” and taxed until the underlying assets are sold.

The tax would also apply to the tradable assets of people who earn $100 million or more in three consecutive years, but it would not apply to property such as real estate. – CNBC

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