You can’t tax unrealized gains without hurting average Americans, and retirement funds. But, you *DON’T* need to tax the gain, you can tax **the loan** Interest is charged on loans. Whenever someone takes a loan against a company that they: -own more than 10% of -sit on the board of -a c-suite executive of -or it’s a fund where the owner is a beneficiary who meets these criteria -AND the company is worth more than $100M -THEN: simply add a 25% surcharge to the interest that goes to the government, and require that these loans are at minimum the prime rate. If the loan had 4% annual interest, it now has 5% annual interest with that extra 1% paid to the government as a tax. Now governments get income from those who take loans on corporate equity but: -It doesn’t hurt startup employees with stock options -It doesn’t break temporary liquidity borrowing -It doesn’t hurt small business owners -It doesn’t break unrealized tax loss/capital gain accounting -It doesn’t risk pension funds -It doesn’t break venture funds creating new jobs -It prevents tax cheats, but also prevents unfairly taxing non-existent capital -It ensures the US market is still liquid and innovative to help the economy. In this model if someone takes out a $100M loan, on $200M in assets, the government is charging $1M/year in interest. If thar $200M stayed worth $200M for 3 years, or had write offs of capital losses, an unrealized wealth tax of 1% would have been $0 (and risk breaking stuff) Whereas 1% interest annually on the borrowed amount, for 3 years, is $3M and doesn’t break things. So this model likely also brings in *more* capital, while not breaking the economic system, and closing the abuse without closing the functionality.(Adam Cochran (adamscochran.eth))