20-50% into broad market indexes. 50-70% into messing around and generic picks.
Of my own picks, only a few have outperformed the s&p50p. Some are... not good. If I happen to find another nvidia I'll be very happy. If I don't, I'll be able to retire at a not unreasonable age.
I think the actual take is probably closer to "I wish we went back to a time when record companies would take a bet on anyone, regardless of the overall package, looks etc"
Which tbh, is probably more of a fairy tale view of years olden days than anything else.
This would effectively lock out every small investor
But sure, now we're just insulting each other, I'm going to ignore that and try to answer your point.
TBH. US tax is weird as fuck, and I don't know nearly enough about it to have more than a high level discussion on it. In my head, this would simply change when you're paying taxes, as opposed to how much.
But.... Nope. Tried to reason about it, can't think of a nice clean way out. It's friday afternoon. I'm out.
What is your alternative solution to the over all problem?
Someone here has made a false assumption. In fact, I'm pretty sure we both have made several. The question is who has made a fatal false assumption? Let's go.
My root comment, at the top of all of this, was my idea that perhaps we should consider gains "realized" when they are sold OR used as a collateral in a loan.
Your assertion is that it would wipe out small investors.
I would question how many small investors are using their small investments as collateral in a loan?
"Oh no, I made money, better put a small percentage of my gains away for tax season, just like I do with all of my income, because I'm American and lack a good PAYE system".
Depends on the exact implementation, but sure, you could happily write a version where an initial home loan isn't hit, and only "top up" loans against the INCREASED value of your home is targeted.
You'd have to put some controls in there for that solution to work. Hitting new homeowners with an immediate tax on "earning" $1,000,000 to pay for their house seems a bit cruel.
In other words: Advertising works.