Reply to Harris interview with MSNBC Sept 25

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Her wanting an unrealized capital gains tax tells you everything you need to know. Stay away from it.[/quote]

Unless you have over $100 million in assets, it doesn't affect you. It is also impossible to implement, so is really a non-issue.[/quote]

I'm not trying to put companies out of business. That's what things like this do.

She and her team have a fundamental misunderstanding of how money and business works. That will further damage us in a globally competitive economy.[/quote]

This was a proposal targeted at people with $100 million or more in assets from the Biden administration that Harris supports, FYI. A few other countries have similar "wealth taxes" including Switzerland, Norway, and Spain. Some research shows it has led to capital flight, though there are questions about how much actual impact it had. In the United States, it doesn't have political support and would likely face legal challenges if enacted.

The discourse from the "business community" (people with a vested interest in avoiding a wealth tax) is very condescending. There is research on this. Cite it. Saying "she and her team have a fundamental misunderstanding of how money and business works" is just wrong. Other countries do it and are still standing. We can argue about whether it's good policy, but don't try to shut people up by talking down to them.

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