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Jeff Deist, Eric Coffin and Michael Oliver return. Many billionaires—Ray Dalio, Warren Buffett, and Bill Gates among them— like to call for higher taxes on people such as themselves. But this raises a compelling question: would they have become rich in the first place under the kind of tax system they now advocate? Would they have accumulated a critical mass of investment capital if taxes had consumed more of their profits along the way? Would they have been able to maintain sufficient capital expenditures in their respective businesses to stay dynamic? Or would revenue, capital, and personal
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