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Others have added some helpful context here: This is a tax they want to implement at death. So it is a defacto big increase in inheritance tax.
@mikebeckhamsm If I understand right—people get taxed for any assets they own that are illiquid? Meaning, they will have to find the cash to afford the taxes they're charged on their illiquid assets?
@mikebeckhamsm Wonder what happens with unrealized losses?
@mikebeckhamsm This is so absurd I am actively ignoring it because it's obviously a campaign move and/or preposterous straw man to anchor a future budget negotiation. I hope.
@mikebeckhamsm So bad you posted it twice. Rightfully so.