Imagine receiving a paycheck not subject to income tax. The full amount is yours, and you are free to divide it between consumption and investment according to your subjective preferences.
Ah yes, the age-old dilemma. How much of my meager paycheck do I spend on groceries, bills, rent, etc., and how much do I spend short selling stocks?
(Also, seriously, what is the deal with libertarians and Republicans constantly forgetting that payroll taxes exist? The author is American, so you’d think he’d know how US taxes work.)