Quote:
Originally Posted by unsunghero
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I also am arguing this should be done to curb scalping of electronics, something that is also supposedly in the works
Scalping is worse than it has ever been, and automated systems to catch scripts and bots buying up all the new graphics cards and video game consoles simply don't work. Something needs to be done to prevent this from continuing to get out of control. We don't want an economy where all video game system's prices from release for the next 2 years are controlled by scalpers exploiting the rich who are willing to overspend 2-3x the value of the console at the cost of the non-rich
I don't see houses as any different, if real estate continues to get more and more out of control due to investment firms buying it all up
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I don’t know the answer man, but my son, an optometrist, made $11 million in stocks and crypto (he had a ton of Bitcoin and ethereum) over the course of the pandemic, and he moved to Florida and retired. He owns two homes in Texas, one that he rents and one that is an airbnb, and neither him nor his wife work
Something is fucked up about that, and we’ve had higher marginal tax rates before. I don’t think thirty year olds should be retiring while others quite literally suffer. I am also not a fascist or a statist, so I wouldn’t throw my son into a gulag or force him to work, but I don’t know the answer. There has to be a happy medium between complete libertarian freedom and communism. Its also important to note that I’ve told my children to invest in index funds and my son has always done that, so a big part of the money he made was due to the Fed pumping money into the stock market. Our government has a lot to do with some market and real estate gains, so why not raise taxes back to Reagan levels? I never said 100%, and I am not saying increase taxes on anyone making under $100,000. However, the current situation is unsustainable. An Airbnb property should provide capital to the owner at 5x what a teacher makes? Doesn’t make sense if we want to incentivize hard work instead of everyone becoming an obese crypto shitlord