TaxProfBlog – Johnson: The Wonderful Mark-to-Market Tax (December 2, 2021)

Paul Caron has published an article on the TaxProf Blog, titled “The Wonderful Mark-to-Market Tax”, which discusses how mark-to-market taxation would tax shareholders on the annual gain from publicly traded stock even when those gains have not been reduced to cash. The article begins as follows:

Whatever its role in the current U.S. budget decisions, the proposal for mark-to-market taxation is a wonderful idea, so good to be inevitable — at some point. Mark-to-market taxation would tax shareholders on the annual gain from publicly traded stock even when those gains have not been reduced to cash.

Both accounting and economics define income to include mark-to-market gains. The 16th Amendment specifically authorizes a tax on income. That alone is sufficient.

Bezos’s tax return reports basic salary that is only one two-millionth of his economic income. It’s time to apply the income tax to our billionaires’ real income.

Click here to see the full article: “The Wonderful Mark-to-Market Tax”

Posted by Anthony Tran, Associate Editor, Wealth Strategies Journal

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