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Did you read the article? Pretty sure it said the asset has to have gone without a tax recognition event for 90 or more years. We're talking about things like trusts, not the average person's home. They'd sooner repeal the Tax Payer Relief Act of 1997, I would guess.

In the bigger picture, this is a pretty bad thing in terms of wealth-building, as getting unrealized gains is pretty much the people's way of building long-lived wealth, in opposition to the government. But to be honest, the days when powerful families were building wealth and dominating localities are kind of behind us. Lamenting this new tax policy would be a bit like ignoring the fact your car was stolen, but crying when you realize you left your wallet in it. Honestly, it's hard to say how bad this policy is because I think it will be hard to implement, but don't get me wrong, it's still bullshit. It's just that the American situation is so beyond fucked already that this just feels like a Tuesday.

Ok cool now I want yet unearned tax refund for income I plan on paying taxes on in the future.

Pretty disgusting they one to make a law to target literally one person.