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This is just a silly plan grounded in the idea that we need to somehow punish those evil billionaires. We can’t (and won’t) tax unrealized gains when there is
by bequanna 2y ago
This is just a silly plan grounded in the idea that we need to somehow punish those evil billionaires.
We can’t (and won’t) tax unrealized gains when there is no intent on selling.
- CRConrad 2y ago> This is just a silly plan grounded in the idea that we need to somehow punish those evil billionaires. Or perhaps it's just a rather sensible plan grounded in the idea that billionaires also need to pay their fair share. Talk like "silly", "punish", and "evil" seems rather inflammatory. Makes those who use it come off as shills. > We can’t (and won’t) tax unrealized gains when there is no intent on selling. When those "unrealized gains" look, walk, and quack in effect exactly like realizing the gains of a sale, then it seems the actual intent -- being able to benefit financially from those gains -- has been realized, whether in the form of an actual old-fashioned sale or not. Doing it the fancy way, so as to effectively realize the same benefit, but not having to ever pay taxes because you're not calling it "a sale" is the very definition of a loophole. Why are you in favour of loopholes for billionaires?
- bequanna 2y agoThey are still holding assets which are at risk of loss. Unless they are using derivatives or something to fully hedge loss, it is absolutely not equivalent to a sale.