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My argument would not be that it would dissuade investment, but rather limit the ability to achieve class mobility in the United States. It's near impossible t
by nightski 7y ago
My argument would not be that it would dissuade investment, but rather limit the ability to achieve class mobility in the United States. It's near impossible to move up an economic class without investment. You can only get so far by saving alone (and it really isn't that far if you are fighting inflation without any return on that cash).
But now if you tax the hell out of that vehicle, then it limits the ability to move oneself up even further.
Everyone talks like it is only the rich that invest. This just isn't true.
- toomuchtodo 7y agoThe most likely way one becomes wealthy in America (class mobility) is through starting a business [1]. Treating investment income as income does not change that, when existing legislation promotes reinvesting profits from a business back into a business. [1] https://whorulesamerica.ucsc.edu/power/wealth.html https://whorulesamerica.ucsc.edu/power/wealth.html
- deleted 7y ago[deleted]