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
As someone else has said just let them pay their taxes with stock, if that were the case I think it addresses most of your points right?

>>andy_p+BY
And if the asset is a farm?

>>rv3909+Q11
How many $100m farms are there that are not part of publicly traded companies are there in the US?

And again, this is for publicly traded stock portfolios. Private farms won’t be broken up… yet :-)

>>andy_p+z31
I actually met a farmer on the East coast from a mayflower time family. They have the same land and basically been doing the same thing for a couple centuries. According to the fed they are worth $50M.