Quote:
Originally Posted by ianch99
I would argue that high net worth individuals should pay the same effective tax rate on the increase in their wealth
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Depends on what you are using to define "net worth".
I see no good reason to tax people on their (main) residence.
I bought my house (in 1992) to live in.
Its not an investment, its my home (and my families).
Is it my fault its gone up in value so much since then ? [ No. ]
Whatever its now "worth" is just meaningless.
I dont actually have that money, and never will.