Seems the solution to that (if u think it’s a problem) is eliminating step up basis.
The reason that works is that basis is reset at death.
The reason that works is that basis is reset at death.
The free step-up in basis at death makes no sense for the very wealthy. The rule originates from the difficulty in determining the basis of assets of dead people. The very wealthy have accountants that track this.
Warren Buffett can pay capital-gains tax AND estate tax.
That is a far cry from taxing unrealized gains as income which is what a lot of people seem to want to do.