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
Unrealized gains taxes is an extractive and totalitarian tax. Someone is always risking 100% loss until they realize those gains. It's an affront to entrepreneurial risk-taking and it's capricious. It would be just as ridiculous to allow someone to write-off unrealized losses.

>>chrisc+fX
Couldnt it be similar to a property tax? That's evaluated on an annual basis. If you feel it's wrong you can appeal

>>EricDe+8j1
1. Properties are bought/sold constantly around most people's homes. Evaluating a home price is not that hard, compared evaluating how much the remains of the car that Ted Kennedy crashed is worth (I purposely chose this example. The car is "worthless" yet I guarantee you can find a nut willing to spend a fortune to have this piece of political history)

2. Properties are purposely, often by statute, assessed far less then they are bought for

3. There are tons of lawsuits around this, imagine the cost of every asset being scrutinized and potentially appealed!