What's often ignored is whether or not these are Realized Gains
I wouldn't be surprised if a huge majority of that $42T wasn't realized gains (sold and attributed as a Capital Gain).
It's hugely unfair to tax non-Realized Gains ... because that would be like you having the pay Income taxes on the appreciation of your home - even though you still live in your home and haven't "realized" those gains (to pay the capital gain taxes)
I wouldn't be surprised if a huge majority of that $42T wasn't realized gains (sold and attributed as a Capital Gain).
It's hugely unfair to tax non-Realized Gains ... because that would be like you having the pay Income taxes on the appreciation of your home - even though you still live in your home and haven't "realized" those gains (to pay the capital gain taxes)