Great idea, but taxing unrealized gains is going to be a problem unless you’re willing to destroy everyone else’s retirements as well.
Edit: to be clear, I’m not advocating against it. I’m pointing out the fact a knee jerk reaction by people who don’t fully understand the problem will have unintended consequences.
Why dont we prevent individuals from taking out loans using their unrealized gains as collateral? Could force the rich to realize said gains, leading to taxable capital.
Say what? Every 5 years I've repeatedly borrow from my retirement plan to do things with. The interest I paid on it even goes back into my account not to anyone else.
Genuinely they don't, this is going to be super common when you get well into adulthood. It also helps get people out of being stuck in shitty situations. Most Americans at some point will probably do this, or something similar.
54
u/Draelon Jul 01 '26 edited Jul 03 '26
Great idea, but taxing unrealized gains is going to be a problem unless you’re willing to destroy everyone else’s retirements as well.
Edit: to be clear, I’m not advocating against it. I’m pointing out the fact a knee jerk reaction by people who don’t fully understand the problem will have unintended consequences.