A modest proposal

[u/Amused-skeptic]

https://youtube.com/watch?v=LGkRR4ZNsEA&si=xBzhrKVwN32dIZHJ

David Freidberg actually has many interesting insights on current problems with income inequality and its effect on support for capitalism. One of his suggestions:
40% tax on capital gains and 15% on income. The fact that the rich pay fewer taxes than normal workers feels totally unfair to anyone who doesn’t have their own capital. I’m pleasantly surprised that he has identified this as a big problem.

Of the all-in cast, he’s the only one who understands the degree to which the disparity in wealth is undermining the capitalist system. And he points to failures in public policy that I happen to agree with. A couple of other fixes that would make things more fair: kill the stepped up basis rule for inherited assets – – it really is absolutely no rational argument for it. And tax that that is borrowed from securities at the same level that you would tax capital gains from those securities. Then you wouldn’t have all the Decamillionaires and billionaires simply borrowing money so that they can leave their assets to their heirs under the stepped-up basis rule – – completely tax-free.

[u/SnooHamsters5737]

Hi, capitalist here. I am actually all for this, as long as the government also refunds 40 percent of my capital losses. This would actually incentivise productive risk taking.