The posts in this thread make me laugh.
The reason we have an elite that can buy the gov’t and create further taxes and regulations for the middle class is due to the low level of cap gain taxes.
Low cap gain taxes is also what creates asset bubbles
You do realize that most cap gains are the result of voluntary decisions by asset owners to sell out and not roll over?
Be surprised by how many people have locked up their wealth in assets such as real estate that they will never choose to sell outright because of the present tax bite
However drop my cap gain tax or drop it low enough and I will cash out and pay tax. Keep it high or raise it and I sit on my appreciated real estate, maybe roll it over or borrow against it. But never ever pay Uncle a dime of tax on that locked up wealth.
What bull****. Cheap to free money causes asset bubbles.
I for one am incensed by this, if the government doesn’t have skin in the game on the risk side they should get jack on the upside of an investment of money already taxed...
Not to mention the idea that anyone who argues the government should be given MORE money when they can’t manage what they’re already in control of must have encephalopathy.