this post was submitted on 05 Jun 2024
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Most stocks are in mutual funds and ETFs. So if I have a million dollars, but I only own like $500 worth of any one company...?
... is that seriously what you're talking about? You can't imagine being able to estimate the worth of traditional investments? That's already implemented.
You already pay capital gains on what you earn in a year. It would be very easy to factor those investments into a wealth tax. Like... trivial.
Explain then. Would you have to calculate your equivalent net worth throughout the year and pay monthly taxes on it?
I'm not saying it's impossible, I'm saying it's very difficult.
Yearly would be fine, but it could be done quarterly to. The capital gains tax on stock profits is already done quarterly.
You know what, I've thought about it some more and you have a point. Securities valuation could be averaged out over a period of time and then treated as cash reserves for taxation purposes. That's actually not as difficult as I thought it might be. Minor additional burden on investment firms.