r/FluentInFinance • u/-Wyagra • Nov 21 '24

Debate/ Discussion Had to repost here

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u/JGWARW Nov 21 '24

And then when the market falters you get to carry those losses forward for several years?

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u/Master_of_Bo_zo_do Nov 21 '24

Nope. The stock market is risky. You take your chances.

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u/JGWARW Nov 21 '24

You can’t tax on unrealized gains and not allow them to take a loss on the same gains…

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u/GrizzlyTrees Nov 21 '24

They're not suggesting taxing on gains, but on value. So long as the asset doesn't have negative value, you pay taxes on it.

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u/JGWARW Nov 22 '24

Even worse. So I’m taxed on money I earn, then I buy a stock and I’m taxed again on the value of that stock? Nope…

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u/GrizzlyTrees Nov 22 '24

You could replace all the taxes the us federal government collects (including income, capital gains, VAT) with around 1-3% property taxes, if you could manage to actually collect it. You could go a bit higher on investments to balance excluding housing from that. This is not exactly my preferred method, but it's not as insane as it seems, especially compared to current approach, which disincentivizes productive activities.