Re:Coinbase lays off around 1,100 employees
by dragonwriter on Tuesday June 14, 2022 @07:06PM
(#31747102)
> You are NEVER going to get that money until you sell it, and when you do you are going to pay a whopping amount of capital gain tax.
Ignoring the hyperpreferential tax treatment of capital gains, I assume? (LTCG are taxed far less than generic income, which in turn is taxed less than labor income.)
> You never got the income
It's not an income tax, so who cares?
Assets deliver utility while held; income isn't the only utility they deliver.
Ignoring the hyperpreferential tax treatment of capital gains, I assume? (LTCG are taxed far less than generic income, which in turn is taxed less than labor income.)
> You never got the income
It's not an income tax, so who cares?
Assets deliver utility while held; income isn't the only utility they deliver.
That's literally the point of wealth taxes.