Tax the Ultrarich Without Throwing Out Realization: A conversation with Brian Galle
Topics discussed
Intro and small talk about pollen
Guest introduction and book overview
The problem with taxing the ultra-rich
International approaches to wealth taxation
Explaining the retrospective tax proposal
Mechanics of the retrospective tax
How the tax neutralizes deferral incentives
Addressing policy uncertainty and prepayment
Revenue scoring and behavioral assumptions
Comparison to PFIC and lock-in effects
Handling death, inheritance, and trusts
Constitutional validity of wealth taxes
Elegance of the formula and closing thoughts
Legislating the proposal and political strategy
Tax Policy Network and sign-off
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