TL;DR - It's a ridiculously effective way to live a lavish life with minimal taxes if you have large assets. When this whole "tax unrealized gains" thing first

TL;DR - It's a ridiculously effective way to live a lavish life with minimal taxes if you have large assets. When this whole "tax unrealized gains" thing first came up I first thought it was absurd...but then I learned how it is abused in ways like this and I have to say I am on board with it if its a way to shut down this loophole. I think taxing unrealized gains for Joe Schmo sitting on $100K in NVDA isn't going to do any good, but it's also clear there is a real problem here that the ultra wealthy are taking advantage of. I'm not quite sure how you do it fairly, but something has to change.