Why do you assume such a law would not allow counterbalancing capital losses?
Because then 2001 happens or 2008 happens or 2020 happens and the government suddenly owes back a decade of wealth tax. A stock market crash becomes even more disproportionately expensive for the government and requires even more borrowing.
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Because then 2001 happens or 2008 happens or 2020 happens and the government suddenly owes back a decade of wealth tax. A stock market crash becomes even more disproportionately expensive for the government and requires even more borrowing.