Democrats are floating a retroactive billionaire tax proposal—and if you're thinking "wait, retroactive?" yeah, you heard that right. The plan targets ultra-high-net-worth individuals, essentially taxing wealth accumulated in previous years. Critics are calling it the "Hotel California" approach: you can check out your gains anytime you like, but you can never actually leave with them.

For anyone holding significant crypto assets or traditional portfolios, this creates an interesting dilemma. Retroactive taxation fundamentally challenges how investors plan their exit strategies and manage capital gains. If policy can reach backward, what does that mean for long-term wealth preservation?

The proposal is still in early stages, but it signals a broader shift in how governments might approach taxation of accumulated wealth—especially as crypto makes wealth tracking more complex yet transparent. Worth watching how this develops.