Pure tyrannical evil. This would apply to unrealized gains (i.e., INCREASES IN THE VALUE OF UNSOLD assets from time of acquisition to date of tax calculation) on all kinds of capital holdings/investments such as significant pieces of property such as stocks, bonds, collectibles, art, vehicles, businesses and real estate/property (including private homes).

Example: A homeowner bought a foreclosure house free and clear for $50k OR inherited a house valued at $50k YEARS AGO. That house is now worth $330k.

The homeowner would owe taxes on the "unrealized capital gains" of $280k (~15% or $42k) EVEN THOUGH the homeowner has not realized (sold and "gotten their hands on") the increase in value.

MANY people would not be able to pay these taxes and would lose their houses and other capital assets by having to sell them or being foreclosed upon to pay the taxes.

The goal: "you will own nothing" and be totally dependent on the government for your livelihood (if, of course, you comply with all its mandates).

Taxing unrealized capital gains is a means to RAPIDLY accelerate that goal to becoming a reality.