If anyone seriously tries to propose taxing unrealized capital gains, I would love to ask the question, are you therefore going to provide tax deductions for unrealized capital losses? If one makes sense, the other must, too.
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Replying to @cmuratori
I don't pretend to know the solution, but do you agree something is amiss? If this was a game and someone was exploiting loopholes to gain an advantage over the rest of the playerbase, you'd look to close the holes, right? Life has effectively become pay to win
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Replying to @WickyNilliams @cmuratori
Capital gains tax should be readjusted, but I don't think that would massively help, since as you say most of it is unrealised. I would love to read up on workable solutions to this quandary
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Replying to @WickyNilliams
The problem is that this is not the quandary. People don't understand that measuring "wealth" is pointless and is only done out of greed on one side or the other. What you want to measure is productive vs. unproductive allocation of resources.
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Replying to @cmuratori @WickyNilliams
An exponential sales tax would be my first suggestion if someone demanded I come up with one on the spot, but really, if one wanted a solid recommendation from me I would want to write a lot of code first to analyze probable results from various ideas.
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Replying to @cmuratori @WickyNilliams
I think people miss that the loophole is taking loans backed by assets, close that loophole and the uber wealthy will need to sell their shares to keep their lifestyle or increase their salaries (in case they work for the company) both of which would derive tax income for the gov
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That to me would be a much more reasonable proposal.
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Replying to @cmuratori @DanielHoffmann_
Yeah, I agree. That's the primary loophole at play (if you want to call it that). And seems pretty easy to close or incentivise away
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