Liquidity is not a requirement for a transfer of an asset to be considered income. If your company paid for your apartment, that's income, despite the fact that

Liquidity is not a requirement for a transfer of an asset to be considered income. If your company paid for your apartment, that's income, despite the fact that it may be impossible for you to sublease it. Certainty of future value is not a requirement for something to be considered income. You get paid in dollars all the time, but that's just an asset with fluctuating value. There are several loopholes that get around the definition of income to defer or avoid taxes for certain types of income, but that's exactly what this is: a loophole for the wealthy. And I have no problem with SV employees enjoying tax breaks. I just can't reconcile SV's love of taxing other people, avoiding it for themselves, and still claiming this is a moral, rather than selfish, stance.