hog88
Your ray of sunshine
- Joined
- Sep 30, 2008
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Well, I think the point is that people in this economic strata argue that they do not "have" the capital gain and so cannot be taxed on it; yet, they use that gain, the very thing they claim not to "have" to in real terms leverage, buy, sell, finance, etc.
In other words, the "I don't actually have it" argument ignores the practical way in which the capital gain is nonetheless deployed and used to benefit him.
It's not much different than taking a home equity loan to make another purchase. Should the federal government start taxing home equity?