Silicon valley existed before QSBS it can survive it's removal.
Is there something hidden in the draft to tax unrealized gains? I know that was an idea thrown out by some super progressives but it is not in the draft bill and won't get passed.
Looking at inheritance only even that got stripped too because of 'family farms'
Why do you get to use the internet my tax dollars paid for? That same internet that your startup so heavily requires to function, heck, even exist?
There’s a great argument that yes, I’d rather have Elon be able to pump billions into spaceX or bezos billions into his ventures than have poor people spend them, but incentives? No clue, genuinely
Well, that is how it began. There were mobsters that shake you down. Then people decided that they don't want to be shaken down. They formed a government to fend off mobsters and then it turned out that the ruler is also a mobster so they implemented limited terms and elections to decide on the next mobster knowing that a society will inevitably succumb to external mobsters if it does not manage its own mobsters.
Therefore the moral argument that governments are bad because they are mobsters is extremely weak.
Why should anyone get to take hundreds of thousands or millions of dollars without paying anything back to society in taxes? Simply because they took a risk? They owe nothing to the society that let them do that? All those jobs they created, hired people, who relied on government services at some point from education, roads, healthcare, food, security, etc. Of course they did too, but no. Now that they are making more than almost everyone in the society, they shouldn't have to pay anything back to it?
It's a greedy load of crap justified with weak, self interested nonsense.
Is it? Why is it so hard to imagine that higher taxes on risky ventures might cause somebody to go "Eh, not worth it, I can make better use of my time - like spending it with friends and family"?
Most businesses fail anyway and knowing that even if you beat the odds and succeed, the reward might not be worth it because the government takes an ever large cut should give every reasonable person pause to reevaluate their life priorities.
As cliche as it sounds, money isn't everything.
I can't wait to read about all the entrepreneurs who come out and tell their story about how the tax rate at the highest level impacted their decision to create a startup. I'll be waiting forever.
Why does the government get to take money from me, risk free, when I'm the one taking the risks and starting a company which, if successful and grows, will employ many people? Is it fair to pay on an unrealized gain, such as with certain option exercises where you have to pay AMT without first selling? All risk to me, none to the government. They're like mobsters who shake you down, rich or poor.
Eliminating QSBS will be the death of Silicon Valley. Raising capital gains will likewise kill incentive to build businesses and invest. It's insanity, pure insanity. There is no avenue the Democrats are leaving un-pursued in their quest to raise taxes. Insanity in this economy. Insanity.