Wyden fills in details for 'Billionaires Income Tax'

[KPN]

12. For that source of income, yes. It only makes sense.

Annual capital gains need to be taxed regardless of whether they are taken as income or reinvested — with the exception of traditional IRAs and 401k’s which have annual contribution limits.

I’d also be okay with a straight wealth tax. Wealth accumulation was and is in part owed to public economic/financial policy which specifically and often intentionally favored wealth aggregation over labor or wealth distribution. Taxing the “rewards” of those public policies to achieve a sound and stable society is legitimate.

This isn’t rocket science. It’s fair. Society deserves a fair return for its investments.