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Then what would you do with all your capital? Sit on it? I highly doubt it. You'd either spend it (which is good) or invest it because 50% of more money is still more money.

That is not how marginal tax rates work. I'm also completely fine moving to an inflation based basis system if capital gets the same tax treatment as labor.

If investment income is taxed at 50%

Love it when people shoot down proposals I never made