Earlier quoted context omitted.
When it comes to large shareholders that wouldn't actually do anything. Nobody sells in these new blue chips; they just borrow against their positions. I've thought about this for a long time. If we wanted to actually tax this wealth, we should just make people pay capital gains on marked-to-market positions every 10 years. Now before everyone starts shouting "yea, but the valuations aren't value," you could easily t…
If you wanted to tax the wealth.. have a wealth tax? It's a thing in countries including Norway and Switzerland, and similar things exist in others (e.g. Italy taxes assets in some weird non linear way).
The idea that a gain isn't a gain until the asset is sold is nonsense. That'd literally be like saying that Bill Gates or Warren Buffett never made a dime on any of their stock that they are giving the charity. It's a ludicrous conception of capital gains, but it's exactly the one we use.