We do a terrible job social and economically engineering through the tax code. So, stop doing it.
Use the tax code to collect the revenue the government needs as simply and fairly as possible.
It's way too complex, right? So, when you have something really complex, that's something that can be taken advantage of...
Let's simplify this thing. Let's rationalize this.
Trying to tax unrealizable capital gains would be disastrous.
Here was my proposal in 2017-2018. I call it a true Warren Buffett tax. Tax all business income at the ownership level.
This is the futility of trying to punish individuals, you know, trying to punish their success. It just doesn't work.
It ends up being incredibly complex.
One principle that we should abide by is wherewithal to pay.
fixing climate change isn't the solution.