It increases the risk of turning a profit due to consolidation and lack of competition. Oh you made $20 million off that vet clinic? You owe $19 million in taxes. Makes it harder to gouge people because buying "all the things" becomes far more risky and natural competition has a better chance of doing it's thing.
> Oh you made $20 million off that vet clinic? You owe $19 million in taxes.
This type of myopic thinking is how you get asinine policy like the ACA “cap on profits”. Instead of incentivizing an efficient operation, we’ll have some other accounting shenanigans to pass on profits as some other form of income.
