While I understand the drawbacks, the current situation - where the ultra-wealthy don’t pay taxes because all their wealth is in unrealized gain - is even worse
This valuation of software for business taxes. If a business never sells its software, the software may very well have no value.
What about an internal tool that helps improves processes but doesn't ever sell or google.com and gmail which are free to users?
> the current situation - where the ultra-wealthy don’t pay taxes because all their wealth is in unrealized gain
This is neither the current situation nor even a theoretical possibility.
Sorry, "don't pay taxes" was hyperbole - what I meant was have a lower tax rate than the rest of us.
Isn't that the whole point of all sorts of tax strategies, for instance Buy, Borrow, Die?
https://www.forbes.com/sites/davidrae/2022/07/14/how-the-ric...