Comment by tw04
8 hours ago
> I don't know what the solution is in the US (and West in general) to be able to think 25+ years ahead, as no material incentive would do the job
Eliminate share buybacks. Raise the top tax bracket to 95% on earnings over $10m. Executive shares cannot be exercised until retirement if you really want to get aggressive.
The nuclear option would be stocks cannot be used as collateral for loans, it would shore up 90% of the nonsense overnight and have 0 negative impact on 99.99% of the general public.
I think having wealth tax would make rich push money to innovations and production more aggressively.
Why would the elites ever agree to that?
It's already too easy for those in power to control popular opinion, and only getting easier, so you're not going to get mass protests or revolutions that upset the status quo.
How would raising the taxes force people to think 25 years ahead?
If I can reinvest my profits to grow my business or pay most of it out in taxes I’m probably reinvesting it if there’s a long term gain to be had.
Unlike trickle down economics, it’s not just a failed theory. It’s something we’ve seen in action and it works as expected.
Taxing profits incentivizes reinvestment over reaping.