4 ms·
Yes, taxing unrealized gains as if they were income would be silly. Most proposals to tax giant piles of wealth in the market look nothing like what you've des
by rrrrrrrrrrrryan 5y ago
Yes, taxing unrealized gains as if they were income would be silly.
Most proposals to tax giant piles of wealth in the market look nothing like what you've described. A wealth tax is more like: pay 1% per year on the current market value of your portfolio, if that amount is over $100 million.
Money attracts money. Wealth taxes are an attempt for reverse that effect and force some of that money to trickle down.
That said, any attempt to implement a wealth tax will probably be struck down as unconstitutional because moneyed interests want it to be declared so.
- bko 5y ago> Most proposals to tax giant piles of wealth in the market look nothing like what you've described Wealth tax is different and I think it makes more sense compared to unrealized capital gains. But its not true no one is proposing an unrealized capital gains tax > Biden’s fiscal 2023 budget request released Monday would impose a 20% minimum tax on the unrealized capital gains for households worth at least $100 million. https://www.bloomberg.com/news/articles/2022-03-28/manchin-pans-biden-s-proposed-tax-on-unrealized-gains-of-wealthy https://www.bloomberg.com/news/articles/2022-03-28/manchin-p...