“...to tax unrealized capital gains yearly, including real estate and business holdings.”
Of course to administer such taxes will require a vast swarm of IRS agents, who will have to know all about everything you own and be able to set a valuation on your real estate and business. Records will have to be kept over lifetimes. And how about unrealized capital loses?
A “swarm” of IRS Agents...seems like I’ve heard that word used elsewhere...
“He has erected a multitude of New Offices, and sent hither swarms of Officers to harass our people, and eat out their substance.”