Mark-to-market is easiest for publicly-traded securities (like shares of Berkshire Hathaway). In that case, the shareholder can sell or borrow against his or her shares to pay the tax, and the underlying company is not affected. Valuation is also easy.
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Just seems some "throw it and see if sticks" idea. honestly don't understand why dems are looking to complicate tax code rather than simply adjusting the current rates.. remove loopholes, may be increase cap gains for higher threshold etc.. these esoteric ideas are stupid.
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The only thing giving pause to Changing your passport is the current exit tax which essentially taxes your unrealized gains. So should this pass expect a wave of (passport) emigrants for a one time gain.
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And almost by definition unrealized cap gains don’t confer any of the economic or political power we talk about when we debate wealth inequality.
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Let’s set aside the issues around valuing private companies. For a preview of the issue of tax liability without liquidity, look at the current challenges of private company option exercise.https://www.realfinanceguy.com/home/2018/3/3/exercise-employee-stock-options …
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Let's not forget us little startup employees who already can't predict or afford the taxes on their totally illiquid startup equity.
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I'm curious how much blow back you'll get for this.
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