3 ms·
Dividends are taxed at a higher rate than capital gains. Once you look at the incentive structures that creates, the mania becomes disappointingly rational on
by mst 10y ago
Dividends are taxed at a higher rate than capital gains.
Once you look at the incentive structures that creates, the mania becomes disappointingly rational on the part of investors.
- mcguire 10y agoIt also converts investing into a negative-sum game.