5 ms·
Your scenario seems unrealistic at best. If you artificially inflate the valuation of your company then possibly you might pay more taxes. So, don't do that. Bu
by foldr 1y ago
Your scenario seems unrealistic at best. If you artificially inflate the valuation of your company then possibly you might pay more taxes. So, don't do that. But I don't think Harris's proposed law would have led to you paying more taxes in this weird scenario in any case, as you need to have $100m or more in assets.
- aurareturn 1y agoIt’s unrealistic but technically true. That’s a bad law.
- tldrthelaw 1y agoNo, it's a bad hypothetical.
- aurareturn 1y agoNo it isn’t. That’s exactly why taxing non realized gains isn’t common around the world.
- tldrthelaw 1y agoAs above, it is common. See: property taxes and mark to market. It is perceived as being administratively infeasible because the folks who would be paying the biggest bills want you to believe that.
- foldr 1y agoI don’t think it’s technically true that your shares in your company would be worth a multiple of what someone else paid for their shares when your shares were valued as part of your overall wealth for tax purposes.