@QasimRashid@mastodon.social The third thing we should do is tax long-term unrealized gains for assets where the short-term unrealized gain is positive - so if you had $1000 of stock at the end of 2023, and its value was up to $1100 at the end of 2024, and up further to $1200 at the end of 2025, then the 2024 gain of $100 should be taxable in 2026, but if it went down in 2025 then the 2024 gain would not be taxed. So the tax applies to ongoing unrealized gains, not to intermittent gains