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Congressman Murphy exchange with Secretary Yellen over taxing unrealized gains in fiscal 2024 budget proposal

North Carolina Congressman Greg Murphy asks Treasury Secretary Janet Yellen at a fiscal 2024 budget hearing for the rationale of taxing unrealized gains, comparing it to punishing someone for a potential crime they haven't committed yet, to which Yellen suggests a tax on individuals earning more than 100 million dollars as a prepayment of taxes that are due upon death to address the issue where hardworking individuals pay a higher share of their income in taxation than billionaires who derive most of their income from unrealized capital gains.
North Carolina Congressman Greg Murphy asks Treasury Secretary Janet Yellen at a fiscal 2024 budget hearing for the rationale of taxing unrealized gains, comparing it to punishing someone for a potential crime they haven't committed yet, to which Yellen suggests a tax on individuals earning more than 100 million dollars as a prepayment of taxes that are due upon death to address the issue where hardworking individuals pay a higher share of their income in taxation than billionaires who derive most of their income from unrealized capital gains.
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Restrictions:
Editorial Use only. May not be used as partisan political campaign material to promote or oppose the candidacy of any person for elective public office, and may not be used to distort the objects and purposes of the hearing or cast discredit or dishonor any member of the House or bring the House or any Member into disrepute. Contact your local office for all commercial or promotional uses.
Credit:
FedNet / Getty Images
Editorial #:
1473732243
Collection:
FedNet
Date created:
March 10, 2023
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License type:
Rights-ready
Release info:
Not released.ÌýMore information
Clip length:
00:01:23:16
Location:
Washington, DC, United States
Mastered to:
QuickTime 8-bit H.264 HD 1920x1080 29.97p
Source:
FedNet
Object name:
hwa031023p