Comment by rightnutwingjob

How do you tax wealth on unrealised gains?

Australia’s current federal Labor government proposed such a a scheme, but had to back pedal hard when everyone told them it ain’t gonna work.

The same federal Labor government introduced changes to capital gains tax, after promising “50 times” they wouldn’t. All the while a not insignificant fraction of MPs and Senators of said party sold significant realestate holdings before they made public their plans.