I think I am on the side of Warren Buffet and agree that investment tax rates does not much effect how eager people are to invest. I mean, what else are the ric

I think I am on the side of Warren Buffet and agree that investment tax rates does not much effect how eager people are to invest. I mean, what else are the rich going to do with their money? If they think, "These tax rates on investments are too high. I'm not going to invest. I'm just going to spend it on yachts, hookers, blow, and black-jack.", then soon they will run out of money and have to start earning it again. Most investors like making successful investments and growing their wealth. What the capital gains tax rate is is not going to change that. Maybe they would not switch investments as much. That might be a good thing. Maybe a better argument would be that successful investors use of money is better for everyone in society in the long run and that having lower taxes on earned income would just let more money be spent on "useless" things: longer vacations or fancy lattes.