How much of capital gains today is just inflation? It's not actually appreciation of your asset, it's inflation changes of your asset, estate taxes, your pass throughs, all those things. And The math came out to about 1.5, 1.6% of GDP you could get by taxing those, tax maximizing everything for those over $400,000. Play this math with me. If it's one and a half percent of the economy and you have a year so far this year we're borrowing over 9% of the economy. (12:36–12:47)
CLAIM
Asserts that maximizing taxes on incomes over $400,000 could yield 1.5-1.6% of GDP.
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