"The unrealized tax is only for ultra wealthy, no big deal."
Let's play this out.
25% unrealized gains on people worth 100MM.
Bill Gates is worth 132 Billion.
Assume his unrealized tax due is about 30 billion.
He would need to sell 40 Billion in Microsoft shares, pay tax on that, just to pay the unrealized tax.
That would probably tank MSFT 10%.
7 million people own Microsoft stock.
Now repeat with META, GOOG, NVDA, AAPL, TSLA etc..
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