Noah said he's not suggesting that we tax people on unrealized gains. 'But if you have billions in shares, you can then use that as money, to then get more money, but not get taxed on any money, because you 'don't have money.'' That's not something the IRS would accept. Only when I take it out, then you can tax me. 'You can't be like, 'That money's in the bank, I don't have that money. Noah points out how we can't fudge around with the IRS due to where our money is located. 'It's such a fun game that billionaires get to play because all their money is in that.' But when we want to tax you, you can say 'I don't have it,'' said Noah. 'So you can buy a thing based on what you have, yes.
