The President is proposing to tax capital gains before they are realized by a sale of securities. He wants us to pay annually on the change in your investments, upsetting a favorite buy and hold strategy. Congress wants to eliminate the step up in basis at death where gains on assets held for a long period of time escape taxation forever. They do not know how to keep track of the basis over time, bit that is no reason to ruin plans for the hard working savers out there who relied on this expectation and may sell out when the majority change this shortly.