It's crazy to tax unrealised gains. You pay tax based on money you don't have, just a bureaucrat's decision as to how much your portfolio went up.

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triceratops 3 hours ago | parent | next [-]

I take it you've never heard of property taxes?

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renewiltord 5 hours ago | parent | prev [-]

Yeah, I think so too. But if we’re going to tax them I think setting the limit to 5x median American wealth is fine. That way it impacts a broad enough base that it’s not two wolves and a sheep sitting down to dinner.

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hypeatei 4 hours ago | parent [-]

That's arbitrary and would still cause issues. You'd cause a mass liquidation event and discourage investing or create a bunch of winners in the tax accounting industry. Unrealized capital gains tax is very unserious and IMO just populist drivel.

	▲	triceratops 3 hours ago \| parent [-]
		> You'd cause a mass liquidation event What if the tax could be paid with assets instead of currency? And the assets went into some kind of sovereign wealth fund?