This is a lot of jibba-jabba saying (I think, it’s a LOT of jibba-jabba) “taxing the rich is bad, actually” but all I needed to see was the txwitter icon on their footer and realize, oh yeah, no...
@nprofile1q...
The data are pretty clear from other countries.
Taxes on income, including capital gains: good when not excessive.
Taxes on realized wealth: damper on innovation unless carefully managed.
Taxes on unrealized gains: absolutely a bad idea.
FWIW. When I grew up in Sweden in the 70s, we had taxes on unrealized gain. It did not work out well for the economy or citizens.
The data are pretty clear from other countries.
Taxes on income, including capital gains: good when not excessive.
Taxes on realized wealth: damper on innovation unless carefully managed.
Taxes on unrealized gains: absolutely a bad idea.
FWIW. When I grew up in Sweden in the 70s, we had taxes on unrealized gain. It did not work out well for the economy or citizens.