Earlier quoted context omitted.
Folks like to hate on capital gains tax. I think it's perceived as a rich-person deal. But homeowners, do they get taxed each year on the increase in value of their house? Almost the same thing, but not hated on the same way.
yes, we do. it's called a property tax, and it goes up based on market value regardless of whether you sold the property or not. it is absolutely a tax on unrealized gains and it's a huge problem to where people who bought the house long ago (or it was passed down to them) but whose income hasn't kept pace (like many people's) can't afford the increased property taxes anymore and have to move
Sure, but recalculated every few years, not every day or even every year?