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10000truthslast Tuesday at 2:39 AM1 replyview on HN

One of the important functions of a government is to act as a backstop for capital-intensive investments with long-term ROIs. The interstate highway system started as Eisenhower's proposal, GPS and the moon mission were funded to one-up the Soviets, Arpanet/Internet was a DoD brainchild, and so on. All of that was enabled by Congresspeople who were willing to carve out a good chunk of the federal budget for large-scale, high-risk, long-tail-reward projects. That sort of thinking has not existed in Congress for some time (least of all during the current "starve the NSF" administration).


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Animatslast Tuesday at 3:19 AM

That's what favorable tax treatment of long term capital gains is supposed to be for. But that's not what that tax treatment is used for.

It shouldn't require socialism to get anything long term done.

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