Dueling Disasters! Harris’ Unrealized Capital Gains Tax Proposal Versus The Federal Reserve (Housing Prices Will Likely Fall By 10% Under Harris’ Tax Plan)

Dueling disasters featuring Kamala Harris on banjo. Her half-wit unrealized capital gains tax idea versus her notion that The Federal Reserve can just print all the money she needs.

The problem, of course, is that The Federal Reserve has created massive asset bubbles with its money printing. And Harris is talking about taxation of UNREALIZED capital gains which is deflationary.

Harris really loves playing the inequality card. Sure, homeowners are seeing massive gains due to The Fed’s money printing, but so are landlords who rent their properties. Harris’ plan for unrealized capital gains tax on housing will crush both sides of the ownership ledger.

Harris’ plan for a 25% tax on UNREALIZED capital gains will cause housing prices to fall by 10%., ceteris paribus (all things equal). Lenders on housing (particularly those making zero down mortgages) will get clobbered.

Thanks to bank regulations, banks are buying some of the Fed’s balance sheet runoff.

Mortgage rates, like the US economy, are in retreat.

The good news? If Republicans retain the House majority, Harris’ tax plan will be defeated, If not, watch out!

Odd how President Biden (I almost wrote Obama) has vanished from The White House and can be found on the beach in Rehobeth Beach, Delaware.