Document Type
Article
Publication Date
7-25-2022
Abstract
In their essay, “Is It Time to Tax Disney’s Unrealized Capital Gains From 1965?” Donald B. Susswein and Kyle Brown argue that a mark-tomarket reform like the recent proposals for billionaire income tax reforms would amount to double taxation. We explain here why their arguments are incorrect. Instead, the primary impact of enacting a billionaire income tax reform would be to close the loopholes and combat the harmful political-optionality dynamics that enable many billionaire and megamillionaire taxpayers to fully and permanently escape income taxation on the majority of their true investment gains.
Recommended Citation
David Gamage and Reuven S. Avi-Yonah,
Billionaire Mark-to-Market Reforms: Response to Susswein and Brown, 176 Tax Notes Federal 555
(2022).
Available at: https://scholarship.law.missouri.edu/facpubs/1373