Unrealized capital gains tax?

[Paul Brady]

I’m sure everyone has heard the proposals of a possible 25% unrealized capital gains tax. The example that was given to me was that if your property goes up in value $100,000 in a year, you would owe the irs $25,000 at the end of the year wether you sell the property or not. 

Knowing the possible implications of this proposal makes me very uneasy.  I have yet to see it discussed on this forum. Is there any silver lining to this proposal or it would it truly in fact be a large blow to the real estate community?

Thanks

[Nicholas L.]

@Paul Brady

i think it only applies to ultra high net worth individuals - >$100M.  so most of of us on BP should be OK...