Subject: Re: Biden's billionaire tax rate fact checked
My point is unrealized gains are in the abstract and will remain so until accessed for some other purpose. That is when current tax code collects the taxes due and that seems fair to me. If there is any unfairness, it would be forcing Mr. Savvy to pay taxes now in real dollars today for abstract future gains that may or may not be realized. Until that boat is in his Driveway. Mr Savvy should not be taxed on the potential of him buying it.

It gets even better. Let's take Mr. Savvy and his other neighbor, Mr. Party.

Mr. Savvy, in addition to buying AAPL, NVIDIA, etc. also chose to buy his house. Over the course of his next 30 years Mr. Savvy made his mortgage payments on time and dutifully paid his property taxes.

Mr. Party went the other way, and rented his home the entire time. He paid no property taxes but did grumble when his rent was periodically increased so as to help his landlord cover the tax.

Is it "fair" that Mr. Savvy should be taxed on the appreciated value of his home? He is in fact paying more property taxes as the assessed value of his home rises.

Meanwhile Mr. Party votes in politicians that want to impose rent control.