John, do you have any sources that indicate this is a likely outcome?
With the best returns coming from the “free money” bubble, why would I invest MY (company) money in growth instead of in the stock market. If I feel the need to invest in capital equipment, I can borrow at almost no cost.
Basically, I can’t see how the argument that taxes on my returns prevents me from investing holds water. I’ve never decided NOT to invest because of the tax rate on the profits from the investment. I can’t see how saying I’ll retain 80% of my profits instead of 65% would change my investment decision at all.