R.I.P. Scout26
Does that mean we would also get to deduct unrealized capital losses?
I am having a hard time imagining how one would keep up with all the ups and downs of stock values and values of other forms of capital. I wonder what sort of auditing process would work for that. How would you get agreement on what the top and bottom value was for a particular time period?
It seems the titular question goes unanswered. Who is time is probably coming?
They'll be coming to get grammarians who obsess about proper use of contractions first . . .
Local municipalities already do this. It’s called propert taxes.Buy a home for $100,000. Property value goes up. You’re now being taxed on unrealized capital gains.
Property rights in the USA are in large part illusionary.There isn’t much of value that you can hold or sell where you don’t have to “voluntarily share” a portion of the value with the state.We are simply stewards of the Kings the States property who have no natural born right to own anything free and clear or sell without paying tribute.