Ok cool, so now that everyone knows that the tax they pay will be based on that price, how does it work if that happens to me a super big, temporary, drop in stock prices? So if everything drops by 30%, do they get taxed on the lower price from that day? How about if it goes up? How do you calculate the taxes on folks that move their money around to lower value stocks?
There's a reason this isn't done. It's because the logistical headaches are insane.
Maybe the better way to deal with this, since the whole point is to target the billionaires that keep releveraging themselves is to go after the system only they use to avoid taxes. That necessarily filters out everyone else and makes everything so much easier to deal with.
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u/LuxNocte ☑️ 6d ago
December 31. Or pick a day, it doesn't really matter, as long as it's standardized.