That sounds generally reasonable then. Except the pressure to sell stock in order to pay taxes. I don't know enough to know in all the ways this is bad, but don't you generally want to keep capital with the company that needs it?
Yeah the tax code generally tries to encourage holding stocks. So if it was just a question of the government getting the tax money now or later, I think most people wouldn’t want this.
However, the proposal is mostly to stop a specific tax dodge: stocks that are given as gifts/inheritance exempt both the giver and receiver from paying any capital gains taxes on profits from prior to the transfer. Combine this with tricks like taking out margin loans to fund expenses instead of selling stock, and someone can become a billionaire yet be paying next to no taxes
