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The bigger fool might also be the taxpayer. Oops the company we funded vanished - now we have a $500k loss to write off…
Sadly, I believe you’re correct on that… sigh…
Overall billionaires wasting their money to pay for idiots that then waste it in consumption would be a tax positive, I believe. We should encourage that behavior instead of them buying assets and then extracting rents like the parasites they are. I don’t care if they get to write off the money they lose from their income.
