In March, President Joe Biden announced a plan to raise revenues for the U.S. government by taxing unrealized gains on assets for those claiming over $100 million in assets. A tax on unrealized gains would mean that even if you had not sold a stock or other asset, you would need to pay tax on it if it appreciated in value.
To be fair, this proposal is unlikely to pass Congress, but depending on who ends up controlling the White House and Congress, it conceivably could.
