This is your economy on socialism...

Reminds me of France instituting a 70% tax rate they had to backpedal on when it drove the people responsible for most of the tax revenue.

Except somehow this is even worse. Taxing unrealised gains is literally taxing hypothetical money.

Such a policy only benefits the elite. Billionaires can shield their assets. But regular people trying to move up the socioeconomic ladder are prevented from doing so. Forced to sell their investments the second they're in profit.

But remember guys socialist policy helps the people and only punishes the rich. That's why most billionaires back left-wing political parties... 🙄