Get the latest tech news
Unrealized Gain Tax–A Coming Sea Change in FY2025 Budget Proposal?
Among the most striking initiatives in the FY2025 Budget Proposal is a set of proposals taxing unrealized gains—a concept generally absent in tax frameworks due to val...
If, however, we consider the fact that the aforementioned billionaire could borrow money using the appreciated stock as collateral—perhaps, say, to purchase a social media company—we might feel somewhat differently. A tax on unrealized gains will need to be carefully calibrated and accounted for, targeted first towards high net worth individuals and liquid assets, to avoid the administrative and political quagmire of valuation and ability-to-pay concerns. Notwithstanding the precision in policy required, absent intervention, the existing imbalances that have allowed vast amounts of wealth to grow, essentially tax-free, will persist.
Or read this on Hacker News