Houston Rockets owner: 'Our great Capitalism will come to an end' if Dems pass unrealized gains tax
Fox News
Houston Rockets owner Tilman Fertitta said the current ceaseless inflation is taking a toll on more than just the billionaires like himself that the Democrats aim to denigrate.
"We have 4,000 openings right now," he said. "Between the Golden Nugget, all the restaurants and entertainment venues; people just don’t want to work anymore. I don’t know what happened to that part of capitalism."
Regarding President Biden's and Treasury Secretary Janet Yellen's plan to tax unrealized gains, credits made on a balance sheet through stocks or property value increases but not yet withdrawn by the owner, Fertitta warned that even though it is dubbed a "billionaires tax" it will affect many more people not as wealthy.
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