No. of Recommendations: 2
I think the super-rich should be taxed, just as nearly all people should be taxed. The concept that the super-rich should not be able to avoid taxation through various mechanisms (like not realizing gains) is a bad concept.
Then apply that same concept DOWN, not just UP.
Sell your house for a LOSS, TAX WRITE-OFF (cap loss, right?).
Income goes down, income averaging or tax write-off (same rationale). The asset (your labor VALUE = ASSET) has gone down, so CAPITAL WRITE-OFF. People already pay taxes on the increase in that labor capital asset via immediate higher taxes on the income. But no way to *recover* the lost capital value of the asset when it goes down.
Ditto for cars. Debt of pretty much all types. And so on.
AI can do it INSTANTLY and save everyone TRILLIONS !!
I claim 10% commission payable to ME for this VALUABLE OWNED CONCEPT !!
