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S Illinois | How much of those gains are due to government largesse aka spending. To shift the burden to only earned income allows the asset holder to get off scott free while taking advantage of something they most likely benefited from twice. Once when the government they elected spent more than they were willing to pay in taxes(easier to buy the assets if one doesn’t have to foot the true tax burden at the time.) and then inflation to push the asset value higher than it should be.
All income should be treated the same.
Edit:spelling
Edited by w1891 5/20/2026 08:07
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1031 rules need to change