"This why there are attempts in the US to tax unrealized gains - including in Biden's budget - but the complications of this will I think defeat it for the moment."

I am all for tax equality but taxing unrealised gains has to be the dumbest political idea ever. All it would do is not only encourage more Robinhood like short term trading but it would essentially wipe out any incentive to be a long term investor. I can't see this going through either the house or senate but if it does then I would have to seriously reconsider long term investments in the market.

And how would this even work? Say one year you have gains and you get taxed on it. What happens the next year if the same investment goes down by roughly the same percentage? If it's just a write off then your likely losing money. For the life of me I can't see how anyone thinks this is a good idea!