Why Rich People Want Higher Taxes

In this video, I discuss one reason that rich people may want higher taxes.

If you are already wealthy when the capital gains tax is being raised, it makes it much more difficult for newcomers to achieve a similar level of wealth.

High capital gains taxes hurt innovation and help wealthy incumbents.

To add injury to insult, the government taxes you when you earn money (income tax), and then again when you try to preserve that money's purchasing power by investing it (capital gains tax).

The more money the Fed prints, the more everyone's purchasing power is destroyed. If you increase the capital gains tax at the same time, it may become impossible to keep up with inflation, since your post-tax asset price inflation does not keep up with real money supply inflation.

Not investment advice! Consult a financial advisor.

Biden capital gains tax proposal:

Not a lot of social mobility in Florence:

San Francisco home values:

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[Bitcoin_University]

WARNING: There are a number of scammers who are using my image and channel name to try to connect with my viewers on WhatsApp and other platforms to scam them. Just so you know, I will never refer you to "my personal trader" or try to connect with you personally to sell you something. I am banning these scammers as quickly as they pop up, but if you could report them to YouTube, it would be very helpful. You can always recognize a scammer by clicking on the image and seeing how many videos he has. All of these guys have zero videos, while I have hundreds.

[DG-ylvm]

You confirm what I have been thinking for a long time. Taxes kill middle class which kills competition and allows them to stay on top.

[directx]

It's unbelievable you aren't way more popular. Maybe people don't realize how precious your knowledge is.

[Acd]

I have to say this is one perspective I’ve never heard before, very interesting!

[ballshippin]

Appreciate that you're still making these educational videos while on your road trip. Much respect to you and stay safe on your journey.

[deluxelex]

I think another reason the rich want higher taxes is that they are in a better position to take advantage of tax loopholes and deductions / other ways to offset and lower their tax burden.

[Biztalkcontrolcenter]

This has been an eye-opener video. Thank you very much.

[oliverallen]

Once you’re high on the ladder, it’s common to try to cut the rungs from underneath you so few can follow.

[simonweber]

Here we go! Professor Kratter exposing the dirty secrets of the oligarchs once again :)

[Knight]

As someone who isn't considered "rich", I wouldn't really want higher taxes on capital gains as well. Many "institutions" are advocating that retail throw a portion of savings into some kind of portfolio that possibly grants a similar return of 8% - 12%. Imagine being told this as you are constantly investing for your future in hopes your current wealth won't be devalued due to inflation and other factors/situation. Once your portfolio hits that $1mil mark or higher, you'd be very tempted to cash out or something but now you're going to be hit hard with this tax as now you're "rich". I think if people heard it from this view, they probably wouldn't appreciate it IF they can hope to get that "rich". It's very similar to how being a lottery winner doesn't like to hear the fact that you're not getting the full lottery money since you have to withhold and pay taxes upfront. To me, the situation will still have the wealth gap regardless if you increase the taxes like this. The non-wealthy now have to be cautious when they are close to this new higher tax threshold and essentially are pressured into investing more to gain less in the future.

[LibertyToTravel]

This is exactly why I moved out of The Netherlands. Taxes just make it impossible to build wealth there.

[tttmsu]

A lot like why established companies always push the regulations to get harder. It prevents competition from innovating and passing them.

[Jefleopard]

$1 million is nothing anymore. If you’re going to live for 30 or 40 years after retirement then you will be a pauper living on $1 million.

[MrCyberamp]

Thank you for your analysis. Your point of view on the rich and tax is truly eye opening.

[soco]

I'll be meditating on your past videos until you're back on Thursday. You will be missed. Many blessings.

[holisticcatalyst]

I am average middle class real estate broker and investor. I started buying rental properties in 2010 when it was cheap and used leverage and credit cards, lines of credit to amass about 2 dozen homes. For the last 10 years I lived on a very tight budget and drive an old truck. Now I want to sell my rentals to diversify and grow, so I will trigger Bidens high tax rate. The wealthy billionaires pay no taxes, this (tax hike on cap gains) is for the middle class who try to get ahead, like me. The law should exempt the investment class like me who only might make the 1M annual once, the year we sell our assets. so the proposed tax hike will not affect me as I will now take years to sell my doors, but I want the liberals to know that this does not affect the truly wealthy, just lucky and successful middle class.

[bujin]

I'm glad someone finally made a video on this. Well done.

[petrolo]

💯 “For the love of money is a root of all kinds of evil, for which some have strayed from the faith in their greediness, and pierced themselves through with many sorrows.” 1 Timothy 6:10

[VTCivilStudent]

Makes sense that everyone is moving to Texas and Florida after reading these figures

[HardcoreDuce]

Because they don't pay them anyway, or because all of "their" money comes from the taxpayers. So simple.