Democrats float a tax on investments to help pay for $3.5 trillion budget plan | WHAT REALLY HAPPENED X-Frame-Options: DENY X-Frame-Options: SAMEORIGIN

Democrats float a tax on investments to help pay for $3.5 trillion budget plan

Congressional Democrats are floating a slew of taxes to help cover their $3.5 trillion budget plan, including new levies on the wealthy.

Senate Finance Committee Chairman Ron Wyden, D-Ore., has introduced proposals for taxes on so-called derivatives, which are financial contracts linked to assets as well as carried interest, which generally is received by hedge-fund managers and private equity firms.

These measures call for a “mark-to-market” tax, meaning investors may pay levies annually based on market value, and may pave the way for a broader push for similar levies on capital gains, according to a Tax Foundation analysis.

Currently, investors don’t pay taxes on gains or claim a deduction for losses until they sell. However, mark-to-market levies would occur every year, even if they still own the asset.

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