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Corporations and rich people have ways (completely legal) to get around taxes. If the tax burden becomes too onerous, they'll just move residences and/or stop d
by jimmywanger 9y ago
Corporations and rich people have ways (completely legal) to get around taxes. If the tax burden becomes too onerous, they'll just move residences and/or stop doing business in your country.
You can see this in one of the founders of Facebook - he renounced his US citizenship, because of the onerous tax burdens. (https://bits.blogs.nytimes.com/2012/05/11/a-facebook-founder-renounces-his-u-s-citizenship/?hpw https://bits.blogs.nytimes.com/2012/05/11/a-facebook-founder...)
It's foolish to just say "we should tax rich people and rich corporations more." You're incentivizing them to not play the game, and wealthy people generally have more abilities to evade taxes than people in the lower upper class or middle class, which is who the burden will inevitably fall upon.
- egypturnash 9y agoWe just have to start guillotining them again, I guess. You need a good revolution once every generation or three to keep capital scared.
- jimmywanger 9y agoDid you not see my previous comment about capital flight? This is not the middle ages anymore, where peoples' riches are tied up in real estate and machinery. Immovable capital. Capital is fluid these days. If you start guillotining people for absolutely nothing except being rich (which is what you're insinuating) they'll just leave and take all the capital and productive capacity with them. See Venezuela.