Taxes on unrealized capital gains would force everyone subject to it to make conservative estimates. Think about it, no more hyping because if you hype and you

Taxes on unrealized capital gains would force everyone subject to it to make conservative estimates. Think about it, no more hyping because if you hype and you don't deliver then you'd end up having to pay cold hard cash for what are essentially hyped-up paper gains. It would essentially force everybody to behave like Bill Gates when Microsoft was emerging. Which is still the gold standard of how the CEO of a publicly traded company which is experiencing growth should behave. From Paul Allen's book "Idea Man": "As the company’s chairman and CEO, Bill was never one to hype future earnings. He’d make modest predictions to set the stage for the company to shine if it exceeded projections. But as Microsoft’s stock price rose by a multiple of nearly a hundred in the 1990s, he found those victories harder to pull off." No wonder Musk is opposed to it, he got here by selling overpriced and overhyped equity to bigger fools. Tax on unrealized gains of billionaires essentially takes away his bread and butter.