When someone takes a job with the government, they’re allowed to sell their holdings and defer capital gains taxes.  But the point is, they do have to sell their shares in companies.  Once you sell, you lock in your capital gains.  No wonder then that Google’s CEO Eric Schmidt says “thanks but no thanks” to America’s CTO job.  If you had billions in Google’s stock, you might be ok to sell them when the shares were trading at $700.  But at $325?

More on the capital gains tax deferral here, as applied to Henry Paulson when he left Goldman to join the US Treasury.

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