[loxodrome]

Bullshit. All the big VC firms in the USA are funded by private investors (rich people). They fund risky tech startups because big, fast gains are possible and the marginal capital gains tax rate is 20%. In the UK it's 39%! But 24% for residential property, hence the focus on real-estate that you mention.

Tax less, and prosperity follows!

[laurencerowe]

I don't think your numbers are correct. In the UK capital gains tax rates on shares are 24% for higher rate tax payers.

https://www.gov.uk/guidance/capital-gains-tax-rates-and-allo...

In California those rates go up to 33.3% (20% federal + 13.3% state).

[alephnerd]

> All the big VC firms in the USA are funded by private investors (rich people)

They are also funded by large public investors like pension funds (American and European) and sovereign wealth funds.

There is just a lot of capital sloshing around in the US, and it's fairly easy to start a firm here. The same isn't true in much of the EU.

[disgruntledphd2]

The funny part about this is that lots of the capital comes from European savers.

[disgruntledphd2]

This is incorrect, except possibly at pre seed levels. Most of the money for VC comes from pension funds and insurance companies.

[michaelteter]

Prosperity for whom?

[alephnerd]

The HDI of European states is on par with that of the United States [0].

The US has issues, but using American issues as an excuse to ignore European issues (which in reality are a result of soverignity tussles) is ridiculous.

[0] - https://hdr.undp.org/data-center/country-insights#/ranks