Some problems with unrealized capital gains taxes

Creating a new type of tax is a risky political move. Here are some of the risks.

Democrats are fighting to pass a big omnibus spending bill that increasingly looks like a bunch of poorly implemented temporary programs designed to appease all of their various constituencies while still walking away with a “win”. To do this, they need to appease the centrist West Virginia senator Joe Manchin. And to appease Joe Manchin, they need to p…