[rolltiide]

I’m glad you are questioning your views on taxation and concentration.

These things don’t happen in a vacuum and the non-participant’s view is highly distorted and intentionally manipulated.

Exhibit A is the IRS’ role. For most people the IRS is viewed as an adversary that retroactively attacks them and unilaterally decides how much that person will pay them. For perceptive people the IRS can preemptively approve your plan of how much you won’t pay them, and most of these multinational tax saving schemes are signed off by the IRS in advance.

This reality always escapes the populist furor that results in changing a tax rate or two, primarily because the people are not exposed to it and can only imagine some arbitrary loophole and an adversarial IRS that is limited by an interpretation of a passed law. When the reality is very different and not adversarial at all.