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follow Satoshi_Nakamoto 2017 Dec 14, 3:53pm
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Retirees typically have very long holding periods, with the oldest investments generally having the most gains built up over decades of buy-and-hold investing. Forcing retirees to recognize unusually high capital gains could increase the taxability of their Social Security Benefits, and lead to higher income-based Medicare premiums.
This will really piss off the old folks, when they find out more of their S.S. checks are taxable due to their higher taxable income.