[HPsquared]

Do they give a tax refund if the assets then lose (notional) value the next year?

[asadotzler]

Yes, well credit and other mechanisms keep the ledger balanced. Do you think you're the first person who thought of that criticism or that none of the economics professionals though to address it? What arrogance.

[HPsquared]

Yikes. I'm interested to see how it handles that. The risk aspect is one reason capital gains are taxed at a lower rate than regular income. I guess it's not a tax on gains per se but specifically a wealth tax.

[exe34]

I'm okay with a wealth tax if it stops the runaway growth of wealth inequality.

[exe34]

in many places you can claim the last few years worth of losses as offset on your profits before taxes.