Read on Twitter
Many people seem to think this will only apply to the "wealthy" and don't understand the downstream effects.
In a free market society, taxing one part of the system is often taxing the entire system, meaning the middle class will feel the burden.
A thread
https://twitter.com/business/status/1385286568752070660
In a free market society, taxing one part of the system is often taxing the entire system, meaning the middle class will feel the burden.
A thread
https://twitter.com/business/status/1385286568752070660
What do investors do with their money? They *invest*.
They invest in things like that new apartment complex down the street. Or that new electric vehicle startup. Or that new phone you are holding.
They invest in things that better society.
They invest in things like that new apartment complex down the street. Or that new electric vehicle startup. Or that new phone you are holding.
They invest in things that better society.
Guess what happens when the government doubles the tax on these investments?
The wealthy stop investing. Why?
It reduces the incentive to invest.
Higher costs lower the risk tolerance. It's no longer worth the risk with so little return.
The wealthy stop investing. Why?
It reduces the incentive to invest.
Higher costs lower the risk tolerance. It's no longer worth the risk with so little return.
So, those projects don't get funded.
That new apartment complex doesn't get built.
That new electric car or phone isn't produced.
Innovation is halted because investors have no incentive.
That new apartment complex doesn't get built.
That new electric car or phone isn't produced.
Innovation is halted because investors have no incentive.
Who does this really affect?
The lower class family that was going to move into that apartment. Lower supply means rent is more $$$.
Fewer electric cars on the road means less competition and increased costs. Middle class can't afford it.
The lower class family that was going to move into that apartment. Lower supply means rent is more $$$.
Fewer electric cars on the road means less competition and increased costs. Middle class can't afford it.
Still think this only affects the wealthy?
Yet people are cheering that rich are paying more.
Why?
Did you think you deserved some of their wealth?
Did you think you would actually get some of it? Or do you merely hate the rich?
Yet people are cheering that rich are paying more.
Why?
Did you think you deserved some of their wealth?
Did you think you would actually get some of it? Or do you merely hate the rich?
Many people have this mindset that the wealthy have gained their wealth by exploiting others, so they think voting for the government to take it will even things out.
They don't realized that wealth comes from providing value to the middle class.
They don't realized that wealth comes from providing value to the middle class.
Why would you want to take capital from the most innovate and efficient private industry and give it to the most wasteful and inefficient organization called the government?
You think that is better for society?
You think that is better for society?
Already seeing examples of investor hesitation if this passes: https://twitter.com/sweatystartup/status/1385294257100148739
Expect significant reduced economic activity if so, which affects *everybody*
Expect significant reduced economic activity if so, which affects *everybody*
Although in reality I wonder if this will cause people to hold assets *longer* until the next big guy comes in and reverses the policy
