> I love this logic, if you're going to take some of my money away I will do nothing instead. Really? Bullshit.
Is it? Why is it so hard to imagine that higher taxes on risky ventures might cause somebody to go "Eh, not worth it, I can make better use of my time - like spending it with friends and family"?
I'm fairly sure I'll still be paying taxes when I go out to eat with my family or go camping with friends. It's just not going to be as much as if I had spent that time working.
If your entrepreneurial drive is only as strong as the capital gains rate, I don't really have any faith in you as an entrepreneur. We're talking about people exiting for substantial amounts that this really impacts.
I don't think that I'm the only person that struggles with pretty much anything that doesn't bring instant gratification, be it hobbies, chores or starting a business.
Most businesses fail anyway and knowing that even if you beat the odds and succeed, the reward might not be worth it because the government takes an ever large cut should give every reasonable person pause to reevaluate their life priorities.
So why the big fuss over giving up some at the extreme end of wealth? It's been shown to have diminishing returns after a certain level anyways. And yet, here we are arguing about why paying zero percent on amounts above 400,000 is a dealbreaker.
I can't wait to read about all the entrepreneurs who come out and tell their story about how the tax rate at the highest level impacted their decision to create a startup. I'll be waiting forever.
Is it? Why is it so hard to imagine that higher taxes on risky ventures might cause somebody to go "Eh, not worth it, I can make better use of my time - like spending it with friends and family"?