It's crazy to tax unrealised gains. You pay tax based on money you don't have, just a bureaucrat's decision as to how much your portfolio went up.
It's crazy to tax unrealised gains. You pay tax based on money you don't have, just a bureaucrat's decision as to how much your portfolio went up.
I take it you've never heard of property taxes?
Yeah, I think so too. But if we’re going to tax them I think setting the limit to 5x median American wealth is fine. That way it impacts a broad enough base that it’s not two wolves and a sheep sitting down to dinner.
That's arbitrary and would still cause issues. You'd cause a mass liquidation event and discourage investing or create a bunch of winners in the tax accounting industry. Unrealized capital gains tax is very unserious and IMO just populist drivel.
> You'd cause a mass liquidation event
What if the tax could be paid with assets instead of currency? And the assets went into some kind of sovereign wealth fund?