South Korea proposes taxing unrealized stock gains, triggering Black Tuesday Kospi 10% crash and forced selling in Samsung, SK Hynix amid 2026 wealth tax push.

According to Balaji, the proposed billionaire wealth seizure in 2026 by California Democrats may set a precedent for a broader wealth tax targeting millionaires. Balaji highlights that similar initiatives were attempted in 2020, aiming to tax 30,000 millionaires. This raises concerns about future implications for high-net-worth individuals and potential market reactions.