Biden's Controversial Tax Plan Faces Broad Opposition

President Biden's proposal to tax unrealized capital gains has sparked widespread criticism from investors, experts, and the general public.

President Biden's budget proposal includes a tax on unrealized capital gains for individuals with assets over $100 million, aiming to raise the top capital gains tax rate to 44.6%.
Critics argue the tax could disincentivize investment, slow economic growth, and unfairly target certain demographic groups.
The policy is seen as economically risky, with potential to distort investment behavior and impact small businesses and startups.
A significant portion of the public and financial experts express strong opposition to the taxation of unrealized gains.
The plan also includes measures aimed at reducing racial wealth disparities, but has faced criticism for potentially exacerbating economic inequalities.