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Having wealth does influence the ability to spend money and work on things like regulatory capture rather than productive investments.
by devdas 6y ago
Having wealth does influence the ability to spend money and work on things like regulatory capture rather than productive investments.
- anchpop 6y agoWealth doesn't, income does. If I buy a car and work on it to add $1000 to its value, I've increased my wealth but have not changed my income or purchasing power until I realize those gains, at which point my $1000 income is taxed (as it should be)