Total Billionaire Wealth Is Up 160% Since First Trump Tax Law; Proposed New Levy Would Finally Tax Unrealized Gains of the Wealthiest American billionaires reached a record breaking $7.6 trillion of personal wealth as of Labor Day 2025, up $4.7 trillion (or 160%) in the less than eight years since the first Trump-GOP tax law …
LVT is a pretty good tax, but you don’t use it in isolation. It exists to make property taxes more progressive, not to make taxation as a whole more progressive.
To do that, you need to replace regressive taxes like the sales tax with progressive taxes like wealth and income taxes, and have rising tax brackets (or sloped steadily increasing taxes) that effectively account for less and less of people’s acquired wealth being necessary or good for society as the amount grows larger.
There should be a minimum tax on unrealized capital gains.
Totally agree, though I think to a degree there should be some limits, (e.g. under $1m in assets, adjusted for inflation, it doesn’t apply) so regular people don’t have to worry about things like managing how much assets they’ll have to liquidate to pay their taxes each year, which would make planning for retirement very difficult.
Most of the stock market is owned by the ultra wealthy anyways, so the tax would still account for most capital gains while making everyone else’s lives much easier.
LVT is a pretty good tax, but you don’t use it in isolation. It exists to make property taxes more progressive, not to make taxation as a whole more progressive.
To do that, you need to replace regressive taxes like the sales tax with progressive taxes like wealth and income taxes, and have rising tax brackets (or sloped steadily increasing taxes) that effectively account for less and less of people’s acquired wealth being necessary or good for society as the amount grows larger.
Totally agree, though I think to a degree there should be some limits, (e.g. under $1m in assets, adjusted for inflation, it doesn’t apply) so regular people don’t have to worry about things like managing how much assets they’ll have to liquidate to pay their taxes each year, which would make planning for retirement very difficult.
Most of the stock market is owned by the ultra wealthy anyways, so the tax would still account for most capital gains while making everyone else’s lives much easier.