Because, even though each climber and her family knew the risks involved, when someone is actually lost, the hole they leave is raw with unsaid words, unlived potential, and unrealized dreams. That's it.I was going to read on, but you know, it's just -- I'm going to get too emotional.
I think they view this as being kind of a backstop of now, you know, we're going to take this 5% bite out of their wealth as a way of taxing these unrealized gains. I mean, taxing unrealized capital gains has tremendously negative impacts on the incentive to invest
volatile from year to year. And these proposals for taxing unrealized capital gains, they often have some types of offsets or clawback provisions in them. But let's face it, right?
He also works with scale. So this is one of his unrealized ideas that could be multiplied to create from the building units to a neighborhood unit, and then collectively into a city unit. So he's thinking about multiple scales.
And it's taxable. And the first point Warren made to our class was the government only gives you one break as an investor. That's the tax deferral on unrealized gains. And so if you can find a business that has the ability to reinvest its current cash flow into creating greater wealth, and you don't have to sell those shares,
wealth as a way of taxing these unrealized gains. I mean, taxing unrealized capital gains has tremendously negative impacts on the incentive to invest And to take risk.
of their wealth they're paying in taxes each year, and that's really where I think it's worth talking about because that's really where the proponents are going with this. So the proponents pretty much want to say these billionaires have got a lot of- Unrealized capital gains. You know, they want to think about that as income that the state should be able to tax, but, you know, because the state doesn't tax unrealized capital gains,
The OCD. The OCD-- Yes. So that sort of romantic, unrealized thing has been a thread throughout the show, too.
We were talking-- you were alluding to it, I think, before you began the talk. holding of the partnership-- but also through the leverage of the deferred tax liability associated with the unrealized capital gains
But you don't you want to go there. You're much better off finding something that you could hold so that the gains that you get over time are unrealized . So when he spoke at our class, Berkshire traded at $900 a share.
So the proponents pretty much want to say these billionaires have got a lot of- Unrealized capital gains. You know, they want to think about that as income that the state should be able to tax, but, you know, because the state doesn't tax unrealized capital gains, I think they view this as being kind of a backstop of now, you know, we're going to take this 5% bite out of their
in Tel Aviv. "For months now, Honi's gaze had been fixed not on trees or people or sidewalks or the road, but on his phone, which offered up an entire world, countless opportunities, unrealized desires, disappointments foretold, and dreams that would never come true unless he suddenly discovered an extraordinary reserve of courage within himself.
That didn't seem like much of a thoughtful way to conduct affairs from my perspective, especially since, at business school, Warren gave the class the primary benefit. He talked about the only one thing that the government gives you as an investor, which is the non-taxation of unrealized gains. They give you one other thing, which is that you can deduct losses for tax purposes.