Tax policy

Part of President Biden's tax proposal is to tax unrealized gains. For example if you buy stock at $100 per share and next year it is worth $200 per share you have a gain of $100 whether you sell or not. So if you don't sell and then the stock goes down to $100 per share do you get to take a $100 loss on your income. This up and down is something that happens on a regular basis. Did the people who proposed this understand what they were doing. Not too long ago the same people were saying they were going to double the capital gains tax starting January 1st but fortunately they didn't do it as that would have caused a huge sell off at the end of last year.