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
Don't we already do it on the average person with property taxes? I know people getting hammered paying property tax that is more than what they had paid for their house when they first bought it.
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Replying to @lngsd
Property tax is significantly worse, actually, because you are taxed on the total value of the asset rather than just the change in value of the asset (which is what capital gains would be)...
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Replying to @cmuratori @lngsd
... 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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