> (For example, what would happen to middle-class retirement plans?) I agree with most of what you said (I'm sure there will be unintended consequences). Howe

> (For example, what would happen to middle-class retirement plans?) I agree with most of what you said (I'm sure there will be unintended consequences). However that specific consequence... The middle class has largely no retirement savings at all (median savings for even 50+ yr old household is about one year's income). To the extent that the middle class has retirement savings, it falls way, way, way under the pretax tax advantaged account limits for 401k, IRA, etc. Capital gains tax on retirement savings is a problem only for the upper upper middle class who can afford to stock away more than like 20k/yr into retirement.