Fiat currency is a tool created by governments to accomplish goals. Massive income inequality generally conflicts with most liberal democracy's goals. Taking loans against unrealized gains lets people much richer than me pay a much lower effective tax rate.
Fiat currency is a tool created by governments to accomplish goals. Massive income inequality generally conflicts with most liberal democracy's goals. Taking loans against unrealized gains lets people much richer than me pay a much lower effective tax rate.
Why not invent a new tax to address this?