POLITICAL THREAD
- By Bill Cosby
- The Paddock - General Discussion Forum
- 690743 Replies
Not only is it completely absurd its totally unworkable. Your point about unrealized loss deduction is the biggest. Guarantee they wont want to allow that but i can't think of any other current concept that lacks the balance of the deduction in the event of a loss. Without that deduction opportunity i don't know that its constitutional, but admittedly i don't know much about constitutional issues as applied to tax or revenue law/code.
Also - are you taxed on it once? Or every year till its actually realized? Who even placed value on such items or investments?
Its a gigantic boondoggle from every angle except political pandering to the insane far left.
There’s a bunch of bullshit in their plan that allows you to defer and pay a penalty if you’re illiquid, etc. I haven’t taken the time to read the actual details. Would have been nice if the Roberts courts would have defined realization as a necessary component of taxable income when they had the chance over the summer. Instead, we get to deal with this bullshit.