Drew

Now your new value is 60K.

So your portfolio is no longer worth that 100K, just like Bitcoin is going down as we've seen it.

It went from 125 to 60,000, that's a 50% reduction.

You were at 50, you went to 100, now you're back at 60.

Your tax bill is still 16,000.

So you would have to sell 16,000 in shares in order to pay your tax bill, and you would end up with 43,296.

So instead of appreciating, you are now going negative because you had to pay a tax bill on a gain that you never actually realized.

So this is why unrealized gains

it weird.

What I propose is what everybody is saying is that, well, OK, let's look at Elon.

He's worth a billion dollars on unrealized gains and he just takes loans from that and he doesn't get paid and he doesn't pay taxes.

So why don't we tax the loans against stocks or let's tax the money that actually hits his account?

But taxing the phantom money in the market is where you're going to end up penalizing average investors as opposed to getting the big guys that you guys think this tax will do.

Okay.

There's no loophole for you.

If you are in resident of America, you pay 32% of whatever you made.

Nobody owns houses and businesses, Tom.

This is a tough one because the largest driver of the budget is pensions, healthcare costs.

Yep.

Guess what you have to cut?