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Part of the Kalecki-Levy Corporate Profit Decomposition is personal Savings. As I wondered what is included in personal savings I was surprised that both realized and unrealized capital gains are excluded from personal savings. So, if you buy a stock for $100 and sell for $200 and pay $15 capital gains, your personal savings actually decreases by $15 rather than increasing by $85.
This doesn't sound right. If you sell the stock in your brokerage account for $200, and then use the brokerage account to pay the $15 capital gains tax, then if the brokerage account doesn't count as "savings", then no change in overall savings occurs. If you sell the $200 in the brokerage account and pay the $15 tax using a savings account, then savings goes down by $15. But if you transfer the $200 to [what is considered] a savings account, and then pay the $15 tax, then savings goes up by $185. When an account considered "savings" goes up, then overall savings goes up, when it goes down then overall savings goes down.
I'm not sure what they count as "savings" with regards to which accounts are included, last I looked into it, the classifications seemed weird to me as well. But I suppose they have good reasons for measuring it the way they do.
