> Why does that need additional justification, beyond investor confidence? Because capital that's in one place is not capital moving around the economy. > And

> Why does that need additional justification, beyond investor confidence? Because capital that's in one place is not capital moving around the economy. > And why does "justification" take the form of paying money? That's not what I said. Justification takes the form of superior return (which makes it possible to pay the tax and remain ahead). The return shows that it's fine to leave the capital in place, because it's empowering a successful venture.