ST Alpha - "They’re setting up for arguing that unrealized gains should be taxed, not necessarily wealth. -- nm" (Reading a Post)

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In response to "If one wants to argue for a wealth tax, go for it. However, this framing of 'true tax rate' is bizarre -- (link)" by ty97

They’re setting up for arguing that unrealized gains should be taxed, not necessarily wealth. -- nm

Posted by spamlet Jun 8 '21, 07:06

(No message)

Responses:

And this. He does make a reference to taxes as a percentage of total wealth in the thread, but that’s not the point of the article. -- nm - znufrii Jun 8, 07:09 11
- I’d also be curious to see a comparison of how that might work, compared to a wealth tax. -- nm - znufrii Jun 8, 07:16 2
  - It’d likely be constitutional for one. - spamlet Jun 8, 07:17 1
    - Fair point. -- nm - znufrii Jun 8, 07:20
- I mean, if he wants to go with this, every homeowner in the country would get *crushed* this past year - Will Hunting Jun 8, 07:15 7
  - Obviously they’re talking about wealth on a scale far greater than home ownership. -- (edited) - znufrii Jun 8, 07:19 6
    - Obviously they’re using scare tactics to rally the troops to hate the rich who passively grew their wealth but aren’t selling to realize their gains. - Will Hunting Jun 8, 07:26 5
      - I would be skeptical of any proposal that would include taxing unrealized gains at the full cap gains rate, but there’s a lot of room for a lower rate -- (edited) - znufrii Jun 8, 07:34 3
        
        You could even think of it as just making estimated annual tax payments on your future capital gains, instead of a tax in and of itself. -- nm* - znufrii Jun 8, 08:12 2
        
        It would also partially resolve the issue of trying to eliminate stepped-up basis when assets are inherited. -- nm* - znufrii Jun 8, 08:17 1
        
        I’m putting way too much thought into this, aren’t I? -- nm - znufrii Jun 8, 08:20
      - And then there's the issue of large privately held companies vs. public ones. Sure, Forbes et al. make an estimate of value but they're still guessing - Barontronic Jun 8, 07:33

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