> You can argue for a wealth tax

My footnotes are the entirety of my argument, and it's not even as radical as a wealth tax. My argument has 2 easy steps:

1. Remove the arbitrage between actual liquidity events and the limited set of what the IRS currently considers taxable events. Borrowing against securities not being taxable is an example of what's broken. Arbitrage using trusts or LLCs needs to be deleted, based on controlling interests and/or ultimate beneficiary.

2. Align tax rates on capital gains vs. income