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.
... which is why it is of course so odd to hear the same people proposing an unrealized gains tax who elsewhere consistently claim that property taxes are "regressive" and hurt people on fixed incomes, etc.
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Personally I think both taxes are not well designed, but, that is neither here nor there.
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