It’s an interesting question. One nice thing about transactions is they have a market clearing price attached. This keeps valuation grounded in reality.
Another “nice” thing is that it keeps the tax burden on the suckers who actually exchange goods and services, and away from the owners of capital. It is pretty sweet for Bill Gates types that tax policy thinks his senior engineers are “the rich” and pretty much ignores him.
Another “nice” thing is that it keeps the tax burden on the suckers who actually exchange goods and services, and away from the owners of capital. It is pretty sweet for Bill Gates types that tax policy thinks his senior engineers are “the rich” and pretty much ignores him.