I was suggesting that large amounts of "appreciating" assets which are being held only because of the CG tax liability being faced upon sale.
I can appreciate your point as well.
Personally, I'm in favor of giving anything new a try. What we have had in place for all these years is simply out of control.
"Personally, I'm in favor of giving anything new a try. What we have had in place for all these years is simply out of control."
So what we must asked ourselfs is, why do we think that a new system will be any better. Who will keep the new system in control? I still think dispite my perhaps total ignorance in things involed here, that the proponents of this idea based their hopes on a stable and or ever growing economy, where we are assured a given amount of tax can be generated to pay the bills. What if we go into a deep recession once more, which any economist on this forum should know in their hearts will happen, due to the cyclical nature of things. Then what?