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I think the definition of "make" is the practical problem here... "I didn't MAKE that money this year! My stock value just increased!" "I've never had a job! My daddy MADE the money and left it to me! I have no idea how all this works." The rich dodge their increased value in all kinds of ways. As Creedence Clearwater Revival says, "Ooh, the house looks like a rummage sale..." "But when the tax man comes to the door,
thenewgreen · 1342 days ago · link ·
"I didn't MAKE that money this year! My stock value just increased!"
Capital gains works. If you sell the stock, you made money and it should be taxed. If it's just an asset you are holding then it shouldn't be taxed year over year. That's just silly.