YOU WANT SOME EXAMPLES OF WHAT A STUPID IDEA IT IS TO IMPOSE ANNUAL “MARK-TO-MARKET” TAXATION ON CAPITAL GAINS ?
An opinion column in the Knox News goes over just a few of the most obvious reasons why taxing capital gains annually based on the market value of capital assets would create tremendous problems. The columnist dismisses the idea as a class warfare scheme that will go nowhere. I hope the columnist is right.
I note that the announcement has received little attention since it was made earlier this month (just in time for tax day). I predict that the promised explanation of how the idea would actually work will not be forthcoming, or if it is provided, will be ignored.
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