1
Well...
The poor judgement was putting it in a book.
People who have never been around a ranch or a farm are clueless of the realities of how the real world works.
The word "unrealized" appears 18 times in this thread. How is it that you have yet to see it?
To capture the financial reality of the richest Americans, ProPublica undertook an analysis that has never been done before. We compared how much in taxes the 25 richest Americans paid each year to how much Forbes estimated their wealth grew in that same time period.
We’re going to call this their true tax rate.
https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax
Exactly. So why are you pretending otherwise by buying into that ProPublica bullshit?
Show me in the tax code where you have to pay capital gains on a house that goes up in value that you are living in and not selling. I own apartments and office buildings. Never had to pay capital gains of course never sold them either..yet. .
Are you capable of thinking for yourself?
For example, let's say you pay $100k for a house. Next year, the government appraises the value of your house at $110k. So according to ProPublica, you should have to pay taxes on that $10k increase even though you did not see a dime of it.