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Index/Topics/Billionaire Minimum Tax

Billionaire Minimum Tax

A proposed tax on the ultrawealthy, part of the Treasury's Greenbook

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Jan 31, 2026
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How are unrealized stock gains taxed under current federal law and do any proposals target billionaires' paper wealth?

Under current federal law, capital gains are generally taxed only when they are realized — that is, when an asset is sold — so increases in stock value that remain on paper do not trigger income tax ....

Feb 4, 2026

How have policymakers and the Treasury responded to the ProPublica findings in proposals for wealth taxes or minimum taxes on unrealized gains?

’s 2021 exposé on how the ultrawealthy pay very low income taxes prompted a flurry of policy responses that range from -led minimum‑tax designs to and state proposals aimed at taxing accrued wealth an...