Episode 251: Wealth, Income, Capital Gains, and Taxes
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Is There a Refund for Unrealized Capital Gains?
To treat unrealized capital gains as income is a marked departure from the way we do accounting and finance. Think about Jeff Bezos sitting on all those shares of Amazon. The minute he starts selling them at market price, the market price of Amazon tanks. And nobody ever talks about giving me a refund if it goes down. This is a serious business. It's an invitation to disaster.
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