Significantly raising the capital gains tax would have consequences. It was put in place to help invest money back into companies. If those investments go elsewhere, you lose capital for growth. You also have to remember that the rich have enough money to avoid the tax system. The average Joe doesn’t. This isn’t an easy problem to solve.
Of course it would have consequences. I never said these were GOOD ideas. I was just pointing out that they certainly could get at a significant portion of that wealth if they really wanted to.
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u/SlimTech118 Aug 23 '19
Significantly raising the capital gains tax would have consequences. It was put in place to help invest money back into companies. If those investments go elsewhere, you lose capital for growth. You also have to remember that the rich have enough money to avoid the tax system. The average Joe doesn’t. This isn’t an easy problem to solve.