End Tax-Free Monetization of Wealth

Cash withdrawn from appreciated property using financial instruments has become a major source of untaxed support for the standard of living of our wealthiest citizens. The proposal would treat cash received under a contract for sale of property or for writing an option on property as realization of gain to the extent the taxpayer or a related party holds the property (or substantially identical property) with unrealized appreciation. If the…
Andrews & Kurth Centennial Professor of Law, University of Texas at Austin - School of Law, USA
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