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Why is it so hard to tax billionaires? (Part 2)
Allison Schrager
Exactly. It's like taxing income. You know, you observe your income and then you pay a tax on it. And this makes collecting it easier. But how do you measure an unrealized gain? So is it just like December 31st, the value of your portfolio and then what you pay the tax on April 15th? What do you do if there's a loss? Do they get a tax credit?
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