Paving roads is not an investment unless there's some sort of asset that you have equity in that will appreciate by your doing. But apparently you would condemn

Paving roads is not an investment unless there's some sort of asset that you have equity in that will appreciate by your doing. But apparently you would condemn this as a form of "speculation". The desire to tax accumulated wealth is equivalent to the desire to tax saving and deferred consumption. People like to dance around this point but it's difficult to avoid how abhorrent this is when it's properly framed.