Investment is planning for future consumption. Taxing one affects the other. In tax incidence, there's no free lunch. The point is to tax in a way that's most

Investment is planning for future consumption. Taxing one affects the other. In tax incidence, there's no free lunch. The point is to tax in a way that's most useful. There's no point in progressively and compound-ly taxing people for having large investments. There is a point to progressively taxing people who consume many times more than average.