“But this will only be for public stocks owned by the rich!”
What do you think will happen to IPOs? Everyone but accredited investors will be shut out, thereby increasing inequality.
“We’ll just make a rule saying companies can’t stay private.”
Yes, I thought that was coming.
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One nice feature of the realization rule is that you don’t have to sell shingles off the roof of your house to pay taxes when property values go up.
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