No. of Recommendations: 5
And if the Apple stock goes to $500, do you get a tax refund?
You would at a minimum have a tax loss - exactly the same as if you had bought $10K of Apple stock with money earned from a wage, and it then went to $500.
Again, I agree with you that the mechanics of a wealth tax are difficult and perhaps unsolvable - which can be true at the same time as billionaires earning a lot of money through the appreciation of their assets without having to pay the same proportion of taxes that everyone else has to pay when they earn money. It is more complicated to tax earnings that are acquired through appreciating assets, but that does not mean those earnings don't exist.
