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Comment by stealthmodeclan | Hacker News Reader

I don't have problem with rich people making more money.

After all capital should go to people who can best use it.

Did you also create as much as value as Mitt Romney? As many jobs created?

If not then i think he deserves more money, so that he can continue doing that.

If James and Bob both make $100 but James invested that money into company (which used his capital to create more jobs) while Bob simply hold onto that money, I don't see anything wrong in James ending up with unfairly large returns (along with low taxes) since that's what's best for the economy.

Bob might be working somewhere, buying stuff for his family, indirectly creating jobs but if James money creates more jobs and value, he will likely a better bet.

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We are (literally or figuratively) in Silicon Valley, disrupting everything.

Why is anybody suggesting that innovating in the form of investment into companies, is creating jobs? Value, yes, by definition since it produces enormous wealth done properly. Why would anybody think this behavior creates jobs when ideally it tends to eliminate ALL jobs and charge eagerly into that Star Trek future?

'capital investment creates jobs' is a completely outdated concept that will never, ever return to validity.

'capital investment creates jobs' is a completely outdated concept that will never, ever return to validity.

Why look at it in isolation?

Here we comparing taking a job and collecting a paycheck vs investing capital.

Investing capital is more likely to create or eliminate jobs which makes economy efficient than taking a simple job.

By all means he deserves more money, no problem. But why with a lower tax rate?

By all means he deserves more money, no problem. But why with a lower tax rate?

Labor produces guaranteed income atleast in the west.

But investing capital doesn't.

How else do you incentivize risk taking?

By all means he deserves more money, no problem. But why with a lower tax rate?

Low tax rate can be seen as a discount from society.

So, how else do we incentivize him if not by lower tax rate?

And if we don't, he will just take a lazy job and continue earning his paycheck.

Incentivize him to make money for himself? I'd like a discount from society for doing that myself. How much does Romney actually contribute to society as a whole by making so much money for himself? Why does he deserve a discount?

Incentivize him to make money for himself?

You are talking as if capital gains don't increase efficiency the company, help produce more goods and services for the people or create/eliminate useless jobs via automation. He only gets to keep money for the value he creates for the society. Society gets to keep the value.

Now he might be corrupt or using loopholes, but that's smth we need to fix.

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