Comment Re:taxing unrealized gains is problematic (Score 4, Insightful) 290
In the near future we will probably see a headline that is something like "Elon loses $200 billion". Elon will in fact suffer no such loss. There is no loss or gain until a stock is sold. A valuation based on today's closing price is a fiction.
By that logic, if CA took $200 billion worth of shares from Elon, he wouldn't actually suffer a loss?