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this post was submitted on 15 Oct 2023
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You're of course allowed to have that opinion, but I'd like to point out working for a living isn't risk-free either. 10 million in a conservative ETF is probably less likely to fail than a job you could get laid off from.
Yes, some kind of income tax is probably best. Honestly if it was up to me I'd get rid of corporate taxes in favour of them too, although I think there's treaty obligations not to do that right now.
What I'd also like to see, but would be difficult to implement is taxing the wealthy when they use assets for leverage / borrowing to avoid taxes.
They can defer taxes for decades this way, in some cases until they die.
Leave it for us small timers, but put a limit somewhere where it becomes taxed somehow.