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It is only a tax on profits (so not total sale value).
I'm not supporting it from a tax revenue stand point, I don't care about that, but it would lower economic activity in the corporate sector and dissuade people from investing (and inflating) the stock market.
The materialistic profit motive that has driven our economy has built an authoritarian state where money buys you freedom, and the more money you have, the more freedom you have as well.
To create a freer society it must be more egalitarian and not based on increasing economic activity.
Also in the long run it will lower government revenues and slow imperialistic ambitions abroad.
Furthermore people will be happier not trying to become millionaires and building a life rather than making a living.
Why would I invest in companies that fuel our nation's economy and take the associated risk if a 10% gain becomes a 1% gain? Might as well dump it in a MM fund.
any bets we have a non investor here ..... nothing is ever suggested that effects the person with the bad idea . it always effects others .
I don't invest in the stock market and neither should you, it puts economic well being in danger and makes you a slave to the value of the corporate sector and leads you to support destructive public policy to save the wealth you have locked up in the market.
If taxes were raised to 90% 401ks and other investment tools would become less attractive and production/economic activity will become less inflated by capital investment and greed.
If you look at the OP’s posting history, you’ll see he has some rather bizarre (to say the least) ideas when it comes to economics (and societal organization in general).
Why would I invest in companies that fuel our nation's economy and take the associated risk if a 10% gain becomes a 1% gain? Might as well dump it in a MM fund.
You wouldn't, and that would be a good thing.
Corporations will have weaker economic influence over the economy, and provide more freedom for the non-executive class.
And why is corporate investment a good thing? Sometimes sure, but there are other modes of community investments (as seen in Nebraska) that doesn't require endless growth for societal stability.
If you look at the OP’s posting history, you’ll see he has some rather bizarre (to say the least) ideas when it comes to economics (and societal organization in general).
Come at the messenger all you want.
I only ask questions, do you think an economy reliant on growth and corporate investment is healthy or sustainable?
You're right, I didn't even realize it was him when I replied.
Prepare for OP spending days relentlessly pressing refresh on his screen to respond to this thread in some bizarre war of attrition where he ignores anything that sinks his argument while spending most of his time claiming to have logically mastered all that arrive despite the prevailing opinion being strongly in the other direction.
Ah. Well, thank you ever so much for your deep insights.
You're describing the "What" ... the questions involved are under the "How" headings.
Capital gains taxes raised to 90% will move us along the way.
As investment from the private (and public) sector becomes realized due to the 90% tax communities will build cooperatives to create wealth for everyone rather than everyone fighting each-other to make a buck.
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