Step 1: Impose a tax on unrealized capital gains right before hyperinflation takes off.
Step 2: Sit back and enjoy the show — you’re done!
The above is not an exaggeration.
Don’t think only about crypto and stock holdings. Think bigger. Your car, your house, your clothes, your dog, the food in your refrigerator, and any other property that is held in your name is fair game for such a tax.
Now consider how hyperinflation works: The nominal value of everything skyrockets, but the material and utility value stays the same. This is effectively a wealth tax that accelerates over time disguised as a “tax on the rich”, which it absolutely is not.
In the context of hyperinflation people will be taxed at an ever accelerating rate simply for owning anything at all, and only the mega-rich will be able to afford accountants that can get them out of owing.
I have to say, this is a genius plan to destroy anyone who isn’t a billionaire already and create that magical scenario we’ve heard so often before as a mantra of the “Build Back Better” WEF people: “You will own nothing”. Indeed, very few will own anything if this sort of tax is actually imposed.
Fascinating times. The cascade will be really interesting to watch.