[spdionis]

But if the alternative becomes more real estate investment than we already have won't that be even worse?

Investing in the stock market at least in principle is investing in businesses that use that money to increase productivity. We should discourage investment in vehicles that do not optimize for productivity (real estate, bitcoin, metals and similar).

[aaomidi]

Selling your investment to pay taxes for unrealized gains forces more liquidity and movement in the market and might have a huge impact on preventing bubbles forming.

[fuzzfactor]

How does that work when some of the most outstanding ways remaining to make money are from a bubble?