Re:Silicon Valley stirs over proposal to end popular QSBS ta...
by sbacic on Wednesday September 15, 2021 @04:17AM
(#28536584)
> I love this logic, if you're going to take some of my money away I will do nothing instead. Really? Bullshit.
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"?
Re:Silicon Valley stirs over proposal to end popular QSBS ta...
by Applejinx on Wednesday September 15, 2021 @05:58AM
(#28537204)
If that is you, why should we trust you with a tech unicorn? Is there no other value or purpose to your venture?
Re:Silicon Valley stirs over proposal to end popular QSBS ta...
by imtringued on Wednesday September 15, 2021 @09:09AM
(#28538615)
You will be replaced by someone who pays their taxes.
Re:Silicon Valley stirs over proposal to end popular QSBS ta...
by sbacic on Wednesday September 15, 2021 @10:21AM
(#28539377)
I'm fairly sure I'll still be paying taxes when I go out to eat with my family or go camping with friends. It's just not going to be as much as if I had spent that time working.
Re:Silicon Valley stirs over proposal to end popular QSBS ta...
by ohashi on Wednesday September 15, 2021 @02:58PM
(#28542932)
If your entrepreneurial drive is only as strong as the capital gains rate, I don't really have any faith in you as an entrepreneur. We're talking about people exiting for substantial amounts that this really impacts.
Re:Silicon Valley stirs over proposal to end popular QSBS ta...
by sbacic on Wednesday September 15, 2021 @04:52PM
(#28544207)
I don't think that I'm the only person that struggles with pretty much anything that doesn't bring instant gratification, be it hobbies, chores or starting a business.
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.
Re:Silicon Valley stirs over proposal to end popular QSBS ta...
by ohashi on Wednesday September 15, 2021 @07:27PM
(#28545808)
So why the big fuss over giving up some at the extreme end of wealth? It's been shown to have diminishing returns after a certain level anyways. And yet, here we are arguing about why paying zero percent on amounts above 400,000 is a dealbreaker.
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 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.