Billionaire wealth is only real money when they want to buy things, not when they need to pay taxes. How is this not considered tax evasion?
If you can’t tax billionaires and trillionaire because “its unrealized gains until they cash out,” then stop letting them leverage that wealth for loans, as collateral, or as equity.
If it’s not real enough to tax, it shouldn’t be real enough to leverage.
This is why we say the system is rigged in favor of the super wealthy. Abolish billionaires, tax them out of existence, protect working people.