The Real Danger Isn't a Wealth Tax, It's Mark-to-Market Taxation

In the Democratic primary, wealth taxes have been all the rage. As Warren and Sanders duel over ownership of the idea, many (myself included) have devoted significant amounts of ink to explaining the problems with the proposals. But ultimately, wealth taxes are still currently a fringe idea unlikely to become law. A dangerous proposal that is far more likely to become enshrined in the tax code is mark-to-market taxation.

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