"Econ 102" with Noah Smith and Erik Torenberg cover image

The New Axis, Neoliberalism, and Germany [Mailbag]

"Econ 102" with Noah Smith and Erik Torenberg

NOTE

Simplifying Capital Gains for Fairness and Revenue

Unrealized gains are part of a complicated taxation system fraught with issues, despite attempts to rectify them. Alternatives exist, such as repealing the step-up basis, which allows individuals to avoid capital gains taxes at death. This repeal would simplify the tax system, enhance fairness, and significantly raise revenue, presenting a more straightforward administrative approach to taxation.

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