I'm in a weird spot on this. On one hand, an "unrealized capital gains" tax is evil wealth confiscation. On the other, it would completely eviscerate the finances of the boomers who created this mess. Particularly the real estate heavy, "muy pensions" crowd who couldn't possibly pay for their million dollar home if they hadnt bought it 50 years ago for a song. An UCG tax would force boomers to pay for their free gibs politics and crash asset prices in a great boomer fire sale to cover their tax bill.
Heck, I'd probably end up even better off simply by virtue of having liquidity to catch that falling knife.
Still a shitty, evil policy. Would be hilarious to watch :shockedpikachu: boomers though.
Realize that the US government didn't collect taxes until 1913. The shit hit the fan then. 1913 had other notable events as well.
Minor nitpick that tariffs on imports, taxing liquor production, etc are taxes. But I know what you mean - not nearly as pernicious as income taxes.