capital gains tax should decline with income not increase. if youre rich its prima facie evidence that your better at allocating capital than people who are poor. "bluh bluh what if its inherited wealth" yeah dude you know what else is heritable? capital allocation acumen
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If their allocation ended up eliminating poverty and world hunger I would consider it. Until then, I still think taxing them is not out of order.
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You could argue it effectively has in the developed world, for certain values of hunger and poverty
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agree with sentiment, but 'efficient at what?' is a good question, and I think is a good criticism of super-capitalism. efficient at allocating to increase total value is very good, efficient at collecting resources or being a middle-man isn't the same, and isn't as great.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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This is the weakest of takes. Nobody should inherit wealth. And capital accumulation, or too much of it, doesn’t promote growth.
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incredible
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This would result in subsidising luck, on the margin
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