Putting it even more simply, people don't need tax breaks. If our current system has loop holes it needs to be simplified such that loop holes can't reasonably exist.
In my opinion, we don't need perfect and we aren't comparing to good.
A perfect tax code would be impossible, a more simply one would be very doable.
We're talking about a campaign proposal here with no legislative draft so its a guessing game, but in my opinion any move similar to taxing unrealized gains will serve only to make it more complex and would not fall under the category of "good" for me.
The audience of HN are striving to be "people in these brackets" and far more here have experienced paper gains over $100M then seen it evaporate, than the few that end up at a place they are insensitive to marginal dollars.
No we're not, since we are smart enough to realize what sort of person you would need to be and what it would cost you in one's actual life (TM) to even have a chance to get there. And most folks here are not high functioning sociopaths to start with.
Upper middle class its where highest quality of life happens, if one is smart enough to understand how happiness and life fulfillment works, to not die full of hard regrets. You can have meaningful true friendships. Enough to afford whatever is you need or desire to do, not enough to become self-entitled spoiled lazy disconnected from reality piece of shit parent and partner type of folks. No you don't need private jet or mega yacht or 5 mil hypercar for that, that's poor man's idea of what sort of quality wealth brings you in life.
