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The problem of the rich not paying taxes because they're stock-rich and use the stock as collateral to take out loans to buy a new yacht could be solved by taxi
by Sohcahtoa82 5y ago
The problem of the rich not paying taxes because they're stock-rich and use the stock as collateral to take out loans to buy a new yacht could be solved by taxing unrealized gains.
Of course, this tax increase could be offset by also allowing unrealized losses to act as a tax deduction.
- eadmund 5y agoThe thing about an unrealised gain is … that is hasn't yet been realised. It doesn't exist yet. It could (and often does) vanish like smoke later on, and become a loss. When people propose to tax unrealised gains, do they also propose to reimburse those taxes when the gains become losses? Do they intend to continue taxing realised gains?
- bombcar 5y agoThey usually propose some sort of mark-to-market and tax the value, but outside of markets like the stock market, and somewhat the housing market, it can be really really hard to determine the value of something. Should the 1st tweet NFT be taxed at its last sale price? The recent failed bid price?
- Sohcahtoa82 5y ago> When people propose to tax unrealised gains, do they also propose to reimburse those taxes when the gains become losses? Did you only read the first line of my comment? I specifically said that unrealized losses should also be a tax deduction.
- eadmund 5y agoI … am a moron. Somehow completely missed that.