Why would she (or anyone) pay tax on an increase in wealth?
Pay tax on the income that created that increase in wealth? Yep, that makes sense...
Pay tax on aggregate net worth? Nope, doesn’t make sense.
But, then, I don’t run in that rarefied stratum of the wealth spectrum.
If the assessed value of your home goes up you do not pay capital gains tax on it until you sell. Same here. She should only be paying taxes on realized capital gains. But capital gains tax is a pernicious tax on inflation and should be abandoned completely. Tax consumption, not income. Not ‘capital gains’, which are mostly just illusory artefacts of inflation.
“Why would she (or anyone) pay tax on an increase in wealth?”
Because she is advocating this for everyone else - particularly those who are striving to get to where she is, but don’t make enough to be able to afford the accountants and tax shelters that she undoubtedly has.
I’m not advocating any particular taxes. I’m just pointing out the hypocrisy.