> They get taxed on that!

The funds don't get taxed on unrealized gains. Nor do the pensioners. They do get taxed on spendable income they get out of the fund's investments, just like the other owners of the company.

> [Should we look at the benefits to society of corporations paying taxes?]

I think so.

if you havent noticed yet, you are talking with someone who owns a private equity fund and, apparently, has "lost more than $1bn twice".

in other words, you are talking to someone in the stupid-wealthy class. you are not going to convince them of anything -- especially not that billionaires should pay more.

its like trying to convince Jon Moore (Phillip Morris USA CEO) that cigarettes should be banned.