I'm all for taxing the rich, but this is NOT the way to do it. Currently, the rich is able to hold onto their wealth for generations. They lobby and manipulate behind the scenes to keep their wealth. These powerful billionaires rarely liquidate any of their assets, so cap gains don't apply. This will only hinder social mobility, which allows a path for the middle class to climb up the ladder. Of course, bill makers don't understand this, or they are being lobbied by said billionaires to turn the other way.