(Some confusion about my statement: I am not opposing labor to capital but income, that is, revenues minus expenses, to capital gains from change in valuation. In other words we are taxing a baker on his income but if one day he sells his shop to a jeweler for a huge gain, the gain coming from pure luck, here real estate inflation, is taxed at a lower rate. Absurd.)
(Some confusion about my statement: I am not opposing labor to capital but incom…
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