This is obviously a terrible idea, but when they come back with a modest proposal to just tax cap gains like income you’ll feel grateful. ;)
as it would be impossible for most people to pay tax in real dollars on an abstract future wealth, wyden's unrealized capital gains tax would effectively strip every US tech worker of their equity. the industry would cease to exist.https://twitter.com/RonWyden/status/1113464900142104577 …
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Ah, moving the Overton window. I will say that I'm impressed how quickly everyone adopted Trump's primary political tool. We are in for a decade of crazy ideas designed to make bad ideas sound good.
End of conversation
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Also what about inflation? Are we supposed to treat any nominal increase as a profit? What about my house? Real estate? It’s basically a wealth tax.
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Another long nail in a very short coffin.
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Or put another way,
@RonWyden is proposing to disincentivize anything that could be categorized as a "long-term investment." I can not think of a more short-sighted, dangerous, and frankly, stupid economic policy proposal. Dems - shut this down!!Thanks. Twitter will use this to make your timeline better. UndoUndo
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*would cease to exist in America
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all the taxes burdens might be vanished with people switching to
$btc. It's that easy )Thanks. Twitter will use this to make your timeline better. UndoUndo
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