Taxing Asset Inflation Caused by Debt Monetization: The WMD of Moral Hazards

Since the creation of the United States Income Tax, government and taxpayers have wrangled over definitions of what constitutes “income,” how it is to be calculated, and when it is to be “recognized” — that is, subjected to tax.  A recent New York initiative (predictably backed by Alexandria Ocasio-Cortez) would tax appreciated assets held byContinue reading “Taxing Asset Inflation Caused by Debt Monetization: The WMD of Moral Hazards”