Agreed. It’s another reason to not complain about income and wealth taxes either if you are good at capital allocation and business in general. taxes drive pe

Agreed. It’s another reason to not complain about income and wealth taxes either if you are good at capital allocation and business in general. taxes drive people who aren’t good at business out of business faster. they take Capital away from people who can’t grow it away faster… paradoxically taxes are supposed to take from the rich and give to the poor, but this way, the rich who are rich not by accident, but by Skill, benefit more from taxes relative to their competitors.