Replying to Avatar Stephan Rinbaum

What happens when assets lose value? Is the government going to allow deductions or refunds based on loss of value? This has absolutely no chance of passing, at least not without rules that would target only the lower class and assets not held by the wealthy (like say, crypto).
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burns 2y ago

I don’t think it’s likely to pass either but I wouldn’t rule it out so easily. It wouldn’t be the first time they pass something that impacts lower and middle class, while providing loopholes and exceptions to massive corporations and banks.

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Stephan Rinbaum 2y ago

Agreed. If there is something like this in the pipeline, it certainly won't result in the rich paying taxes on their mansions in Newport RI that have been owned for generations. My guess is that they will attack "new" forms of wealth, like crypto.