4min chapter

All-In with Chamath, Jason, Sacks & Friedberg cover image

E30: Ramifications of Biden's proposed capital gains tax hike, federal budget, India's COVID surge, founder psychology & more

All-In with Chamath, Jason, Sacks & Friedberg

CHAPTER

Taxing the Rich, Screwing the Economy

The capital gains tax is the one place where you can kind of say, look, the tax rate that you're paying to day is half of what an income tax rate would be if you were earning that as income. And so then the question is, who are you taxing? You're not going to go tax the people that are struggling. The richest, richest, rich folks. That is not, unless you imat but famust you propriate the money fror them, that's not you're not going to get a single cent. If you had to pick one % wealth tax that was better than this, we're no better than banana republic that could alsotha ate

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