econ101

Also, entrepreneurs shouldn't forget that if they do get into the US and make it big with their startup, they might be subject to the 30% exit tax (on their net worth) if they ever want to end their relationship with the IRS. They are dangerous people to do business with!

Thanks. That's an interesting link, but it describes an income tax. It is just the kind of tax I'm arguing against. Its aim seems to have been to prevent individuals from delaying payment of income tax that was held within companies.

FDR taxes were largely about raising income taxes to punitive levels. The opposite of what I was suggesting. The increase in capital generation brought on from 0% income tax would more than compensate for any destruction of existing capital.

It is odd that we've settled on a system that taxes upwards of 30% percent on things that increase wealth and provide social stability (hiring, working) rather than tax at 1% or 2% things that don't increase wealth and cause social unrest (large private fortunes)

I think we're probably losing 3 to 6 new software features every year due to the administrative burden on you alone. We all lose out when the labor of any of us is destroyed needlessly.

I think an economist would tell you it is human irrationality. However, I think there are a few factors - a big one is that a change is as good as a rest. Doing 40 hours development and 10 hours running errands is a nicer balance than 50 hours development, and probably with similar productivity. There's an overhead to hiring help too - setup and management. You're also becoming more removed from everyday life. That might be a benefit or a drawback.

That said, I recently hired a servant to take care of all those things that I don't like to do (I live in a low-wage country). Shopping, Cleaning, Laundry etc. About $400 a month, although it could be a lot less. Wouldn't go back.