And that's a phantom gain. And so what I believe is you ought to index capital gains to inflation, which means whatever the inflation is, you raise the basis, … Indexing capital gains to inflation would have a massive positive stimulus effect for the economy. … It has an enormous impact on housing. So here's what's interesting. If you have a house, let's say you bought a house and the house has appreciated massively in value. (24:47–24:52)
CLAIM
Asserts that indexing capital gains to inflation would positively stimulate the economy.
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