<p>Treasury Secretary Janet Yellen told CNN&#8217;s Jake Tapper on Sunday that Senate Democrats are considering a proposal to impose a tax on unrealized capital gains of the wealthiest Americans.</p>
<p>Yellen made the remarks in response to a question from Tapper about whether a wealth tax should be part of how Democrats look to pay for Biden&#8217;s $3.5 trillion social spending bill.</p>
<p>&#8220;Well, I think what&#8217;s under consideration is a proposal that Senator Wyden and the Senate Finance Committee have been looking at that would impose a tax on unrealized capital gains, on liquid assets held by extremely wealthy individuals, billionaires,&#8221; Yellen responded. &#8220;I wouldn&#8217;t call that a wealth tax. But it would help get at capital gains, which are an extraordinarily large part of the incomes of the wealthiest individuals, and right now escape taxation, until they&#8217;re realized, and often they&#8217;re unrealized in the death benefit from a so- called step up of basis.&#8221;</p>
<p>&#8220;So, it&#8217;s not a wealth tax, but a tax on unrealized capital gains of exceptionally wealthy individuals,&#8221; she added.</p>
<p>Yellen went on to <a href="https://www.dailywire.com/news/treasury-secretary-janet-yellen-signals-trouble-over-how-long-inflation-will-continue-to-remain-high">say</a> late in the interview that high rates of inflation would continue to remain a problem for the U.S. well into next year, adding, “we are going through a period of inflation that’s higher than Americans have seen in a long time.”</p>
<p>WATCH:</p>
<p>https://twitter.com/disclosetv/status/1452422986015944711</p>
<p>TRANSCRIPT PROVIDED VIA CNN:</p>
<blockquote><p><em>JAKE TAPPER, CNN HOST: You just heard Speaker Pelosi. She floated some new ways to pay for this bill, such as a wealth tax, because it does appear that the plans to raise the corporate tax rate and raising the tax rate for top wage earners are out.</em></p>
<p><em>With those off the table, can you still guarantee that this bill is going to be paid for?</em></p>
<p><em>JANET YELLEN, U.S. TREASURY SECRETARY: As the speaker noted, we have a variety of different ways to raise revenue.</em></p>
<p><em>And, all in all, it should be relatively straightforward to raise the revenue necessary to pay for this bill. The final package exactly, what&#8217;s in and out hasn&#8217;t been decided. That&#8217;s being negotiated now.</em></p>
<p><em>TAPPER: Do you think that a wealth tax will be part of it? And can you explain what that would look like?</em></p>
<p><em>YELLEN: Well, I think what&#8217;s under consideration is a proposal that Senator Wyden and the Senate Finance Committee have been looking at that would impose a tax on unrealized capital gains, on liquid assets held by extremely wealthy individuals, billionaires.</em></p>
<p><em>I wouldn&#8217;t call that a wealth tax. But it would help get at capital gains, which are an extraordinarily large part of the incomes of the wealthiest individuals, and right now escape taxation, until they&#8217;re realized, and often they&#8217;re unrealized in the death benefit from a so- called step up of basis.</em></p>
<p><em>So, it&#8217;s not a wealth tax, but a tax on unrealized capital gains of exceptionally wealthy individuals.</em></p></blockquote>

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Treasury Secretary Janet Yellen: Democrats Considering To ‘Impose A Tax On Unrealized Capital Gains’

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Treasury Secretary Janet Yellen: Democrats Considering To ‘Impose A Tax On Unrealized Capital Gains’