to the question "how would you tax unrealized gains?", I would respond, "it doesn't really matter let's just figure it out on the fly"
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Would be a massive giveaway to private equity funds that only mark to market 4 times a year, they would have a sudden fundraising bonanza
This isn't to make a value judgement in either direction, I'm just observing that illiquid shit would gain an added dimension of usefulness in a world where unrealized gains are taxes
