zlacker

>>southe+(OP)
I wonder if this is coming up just before the election because of the Harris campaign’s suggested policy of capital gains tax on unrealised gains for people who have over $100m in assets? I think this is a great idea personally given what these people are doing to avoid paying tax including taking out loans against their own share portfolios. Worth thinking about what people are willing to do to not pay billions of dollars worth of taxes.

>>andy_p+ex
I'd much prefer seeing us close up the tax loop holes than create an even more complex system.

Taxing unrealized gains will be extremely complex, and given that they aren't allowing us to deduct unrealized losses its a pretty shitty setup for the taxpayer.

We need to drastically simplify our tax code rather than further increase its complexity.

>>_heimd+Ry
Put simply, people in these brackets don’t need more options for tax breaks.

>>apppli+JB
Putting it even more simply, people don't need tax breaks. If our current system has loop holes it needs to be simplified such that loop holes can't reasonably exist.

>>_heimd+cD
It would be nice, but I don’t see why perfect need be the enemy of good

>>apppli+sG
In my opinion, we don't need perfect and we aren't comparing to good.

A perfect tax code would be impossible, a more simply one would be very doable.

We're talking about a campaign proposal here with no legislative draft so its a guessing game, but in my opinion any move similar to taxing unrealized gains will serve only to make it more complex and would not fall under the category of "good" for me.