/lit/ - Literature

>>8082848
>The article also neglects to mention the weight of capital gains taxes (which I'm personally actually not in support of, I think it's bad for the economy), which stands for the majority of the taxes on the very richest households.

All that getting rid of capital gains will do is cause the value of stocks and real estate to sky rocket and result in the poor going into more debt to the rich by borrowing to "invest" before the bubble bursts. That's classic accumulation by dispossession like what happened during the transition from feudalism to capitalism... except instead of investing in growing the productive forces you're directing funds towards the fictitious paper economy to inflate paper value and increase rent extraction from the real economy.

Unless you're an accelerationist or something this will result in something way worse than the Great Recession.