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> We need to tax those who're benefiting tremendously from the current economy While I agree in part with the sentiment, I think this needs to be done carefull
by cesarbs 10y ago
> We need to tax those who're benefiting tremendously from the current economy
While I agree in part with the sentiment, I think this needs to be done carefully so as not to end up in a situation where everyone is at a disadvantage.
Take for example that a higher earner is able to afford a high deductible for his yearly health expenses. If you start taxing that person heavily to the point where they can't afford that deductible anymore, all you did was to increase the bucket of people who can't afford proper healthcare.
It's not just about taxing the richer, it's about adjusting the system as a whole.
Another example, this one personal: my wife and I earn a high combined income. Because of that, we're able to afford a more expensive apartment in our city's Downtown (not luxurious by any standard, just a little above the average in our area). That frees us from having to use a car most of the time (we have one that we use sparingly and incurs minimal yearly costs), which 1) drives down car costs 2) is friendly to the environment 3) makes us happier thanks to not having a long commute and 4) somewhat (although minimally) helps local government revenue because we're paying for bus fares. If we were taxed to a point where we couldn't afford our rent anymore and were forced to move to the suburbs, we'd see a dramatic increase in car costs (more gas, more frequent maintenance), we'd be joining the ridiculous lines in traffic during our commute, which would likely lead to more stress and more health issues, and we wouldn't be part of the group of people providing revenue to the local transit authority. So it's not like high earners can be indiscriminately taxed and that would only help other people but not impact those being taxed.
This discussion also comes down to the question, "who is a high earner?" I don't think people earning $100K+ (or couples earning $200K+) should be the target here, but executives earning millions upon millions every year, as well as the corporations they run.