It already can and does exceed 100% because it isn't indeed for inflation. If I buy an ounce of gold for $100, and it's value as measured in fiat dollars goes up to $1,000 purely because of inflation (i.e. its purchasing power has not gone up.), I still have to pay tax on the $900 "gain" as measured in flat, even though I'm not any richer for holding it.
Thinking about it another way, if an ounce of gold will buy a good suit when I first purchase it, and will buy the same suit when I sell it I've gained nothing, but will still have to pay tax because the value of fiat dollars went down.
It already can and does exceed 100% because it isn't indeed for inflation. If I buy an ounce of gold for $100, and it's value as measured in fiat dollars goes up to $1,000 purely because of inflation (i.e. its purchasing power has not gone up.), I still have to pay tax on the $900 "gain" as measured in flat, even though I'm not any richer for holding it.
Thinking about it another way, if an ounce of gold will buy a good suit when I first purchase it, and will buy the same suit when I sell it I've gained nothing, but will still have to pay tax because the value of fiat dollars went down.
not having a substantial stack of untraceable coins in an insured safety deposit box
ngmi
>not having a substantial stack of untraceable coins in an insured safety deposit box
ngmi
(post is archived)