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clambo says
Yellin was saying it’s unfair because I might die before I sell my shares. Then the guys who inherit the shares get a higher basis “stepped up”, and they may decide to hold the shares too.
Getting rid of the free basis step up upon inheritance sounds a lot more sensible than taxing unrealized gains.
Briben was supposed to get rid of the step up anyway, or so he claimed while campaigning. But all he can accomplish at this point is a wet fart into his diaper.
clambo says
Onvacation, they want to tax you even if you never realize the gains!
They’re out of their minds but they are in power now.
That's called a 'property tax',, which the Feds cannot do w/o apportionment.
Do you realize how fucked up the concept of taxing unrealized gains is?
Multivariate analysis indicates that economic elites and organized groups representing business interests have substantial
independent impacts on U.S. government policy, while average citizens and mass-based interest groups have little or no
independent influence. The results provide substantial support for theories of Economic-Elite Domination and for theories of
Biased Pluralism, but not for theories of Majoritarian Electoral Democracy or Majoritarian Pluralism.
I'm going to try to read Henry George's "Progress and Poverty" on the flight to Europe and back.
I think he's probably right that there should be exactly one tax: a tax on land value.
You cannot tax unrealized gains as they could evaporate tomorrow. This is not only unconstitutional, it's as evil as some of the worst money and land grabbing by the worst commie regimes. The fact that billionaires often live off their gains has nothing to do with it. The right thing to do would be to get rid of bail-outs, which would self correct every issue associated with this topic. If you tax unrealized gains the billionaires would get hit, but the middle and upper middle and upper class would get squashed, which then would prompt the billionaires to buy their scraps for pennies on the dollar, making billionaires even richer and creating tons of additional government dependents. In fact even taxing realized gains right away while delaying realized losses to the max of 3k/year as it has been practiced forever is already unconstitutional commie bullshit. Abolish the irs NOW
Yellen is of course a dimwit loser, and Biden’s senile.
Do you realize how fucked up the concept of taxing unrealized gains is?