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Companies won't go public and many public companies will go private? Great! That's a big win. The "investor" class is basically ruining the world right now by chasing the impossibility of infinite growth. Having fewer companies succumb to that would be great.
The majority of Americans won't have assets to invest in? Guess what, they already don't. The vast majority of Americans don't make much money from stocks (if you don't count 401Ks, which wouldn't be taxed any differently under Kamala's tax plan). The truth is that in the stock market for someone to win in a trade someone else has to lose, and the majority of the time the winners are large hedgefunds so the losers are the normal people, who wallstreet refer to as "dumb money." Hedgefunds make the majority of their money through insider trading, which they obscure just enough with "market research" that they don't get caught, and even when they do get caught the fines are always smaller than what they earned through insider trading so there's no reason for them not to do it. Very few of them ever go to jail for it. That's what you as a private trader are competing with, and you can't win.
Yes, because the rich figured out how to avoid paying income taxes, so the tax burden ended up falling to the middle class. If the government had implemented an unrealized capital gains tax when the rich figured out that they could just take stock instead of income to avoid paying taxes then perhaps you wouldn't even be paying income tax right now.