It’s *extremely* funny to think about what would happen to the NFT market if the US taxed unrealised gains and the IRS decided to value all NFTs at the most recent floor price.https://twitter.com/nope_its_lily/status/1453261849818972165 …
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I think it’s hilarious everyone took my comment and went to NFTs and not the 10 trillion or so in private markets
The thing with private markets is that most companies, loans etc trade *very* infrequently so you can get a low mark for tax purposes and it will only affect paper wealth. Plus you still own, like, an actual company with revenues. NFTs trade more frequently and you own... a jpeg?
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Note that the Wyden plan includes an an additional tax to non-tradable assets like private equity and real estate, in addition to cap gains when they are sold or transferred - to remove the benefit of deferralhttps://twitter.com/RichardRubinDC/status/1453300103654084620 …
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I mean uh yes that was my point lmao
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