Glyphyelling at nobody in particular here, but taxing a billionaire is not the same as the cops seizing your personal property. if you are a person who makes and spends money, or even someone who has a bunch of investments and cares about things like dividends and capital gains, you do not interface with money like a billionaire. the rules that need to change have to do with things you will never touch, like restricting the ability to collateralize margin loans with unrealized gains.
Anthony Brian Mallgren@glyph You're worried about accounting methods? Let's say it does work out, and private financial elasticity is reigned in, then what? More people can maintain more power in buy side pressure and they themselves manage exit points by telling their children to invest heavily in untethered instruments? 🤨
@abmallgren more than one thing has to change (and more things than accounting regulations do, too) but as a first step: everyone has to realize their gains to achieve liquidity from the gains, including (but not limited to) using them as loan collateral. Which means that everybody pays at least the capital gains rate
Caller ID Spoofed@glyph @abmallgren Or you just tax unrealised gains being used as collateral. If you're spending it like real money, it gets taxed like real money.
@Salty @abmallgren I think forcing more things through a realization chokepoint is a more holistic solution, but, no bad ideas in a brainstorm
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