How do you tax unrealized capital gains?

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You can't. It's one of the dumbest proposals I've ever heard.

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Thanks D2, I didn't realize it was only on equities. That's way simpler than I was imagining.

Really appreciate you taking the time and having the patience to explain.

Cheers!

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My understanding is that the tax would only apply to people who make more than $100MM a year for 3 consecutive years, or if they make $1B in annual income. So only a few hundred people.

Regardless, aside from my philosophical opposition to the idea, the premise of taxing unrealized gains wrongly equates asset value with cash on hand. For examples, Elon Musk is cash poor and he has used his stock in his companies as collateral to secure loans for those companies and makes no money off dividends. Guys like Jeff Bezos actually sell billions in stock and pay capital gains tax because they realize the value of the asset.

To no surprise, they are trying to solve the wrong problem.

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The Senate is so old and rich they are all thinking "maybe fix that after I die"

isn’t it similar to property taxes?

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This proposal is only supposed to cover a very small number of people. We all know it won’t be limited that way, but that’s the idea.

Yellen will ask investors politely

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