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Why is income equality relevant in this case? The presence of billionaires in your country does not automatically imply that the poorest people are worse off th
by hueving 9y ago
Why is income equality relevant in this case? The presence of billionaires in your country does not automatically imply that the poorest people are worse off than if the rich were driven out. I think what you were looking for is average income or purchasing power for the different percentages of the population.
- toomuchtodo 9y ago> Why is income equality relevant in this case? The presence of billionaires in your country does not automatically imply that the poorest people are worse off than if the rich were driven out. The policies that allow those billionaires to exist without taxing them at a higher rate is the problem. The age ol "capital treated better than labor" issue. Also: https://www.theguardian.com/business/2017/oct/11/imf-higher-taxes-rich-inequality-jeremy-corbyn-labour-donald-trump https://www.theguardian.com/business/2017/oct/11/imf-higher-... "Higher income tax rates for the rich would help reduce inequality without having an adverse impact on growth, the International Monetary Fund has said. The Washington-based IMF used its influential half-yearly fiscal monitor to demolish the argument that economic growth would suffer if governments in advanced Western countries forced the top 1% of earners to pay more tax. The IMF said tax theory suggested there should be “significantly higher” tax rates for those on higher incomes but the argument against doing so was that hitting the rich would be bad for growth."