If investor confidence would be lost by appropriate taxes, then it must be unjust confidence. If the shares can’t be sold without impacting the stock price, then clearly they’re overvalued.
Their value is based on confidence in the current system. Change the system and the confidence is lost.
It’s like tickets to a movie. They’re valuable before the movie starts. After the movie’s over they’re worthless.
Put a total wealth tax on the stock market is like throwing sand into the gears. The whole system will fall apart. You can argue that it shouldn’t be that way but you’re currently in the system. The challenge is not to imagine how it ought to be, it’s how to get there without the whole house of cards crashing down around you.
If investor confidence would be lost by appropriate taxes, then it must be unjust confidence. If the shares can’t be sold without impacting the stock price, then clearly they’re overvalued.
Their value is based on confidence in the current system. Change the system and the confidence is lost.
It’s like tickets to a movie. They’re valuable before the movie starts. After the movie’s over they’re worthless.
Put a total wealth tax on the stock market is like throwing sand into the gears. The whole system will fall apart. You can argue that it shouldn’t be that way but you’re currently in the system. The challenge is not to imagine how it ought to be, it’s how to get there without the whole house of cards crashing down around you.
“People have no actual confidence in capitalism if it can’t be quite so exploitative of people”
Tell me more
No, I’ll just block you because you’re putting words into my mouth and arguing in bad faith!
Sorry, not sure how else I was supposed to interpret that