I mean, you buy a stock, you hold it, and then you're taxed. When you sell it, the stock doubles they don't just tax you as you hold it. So Unrealized gains is not the way you want to run a tax system, but our property tax system basically relies on these unrealized gains. So we're going to work hard to provide relief, but ultimately we can't, as elected leaders, deliver the relief without the voters approving it at the ballot box. (27:51–28:00)
CLAIM
Asserts that the property tax system relies on unrealized gains, which is not ideal for a tax system.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
