If it's ok to take loans against the value of your assets to aquire goods and services, why is it not ok to tax that same value?
I'm sure people will hold what is in my opinion conflicting positions. In my mind you cannot hold both that you should not be able to tax gains and that you should be able to get loans against those same assets. If you had to pick a side, either tax gains or disable loans against speculative value, which would you pick?
What do you the the outcome of these choices would be?
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