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Inflation, taxes, and regulatory burden. Savings have been systematically eroded for 50+ years. Total taxation is now 40+% of GDP. Private sector workforce par
by megiddo 9y ago
Inflation, taxes, and regulatory burden.
Savings have been systematically eroded for 50+ years. Total taxation is now 40+% of GDP. Private sector workforce participation is dropping. Regulatory burden dramatically increases health care, housing, and transportation costs.
All of these policies have worked to keep you in the office.
- pjkundert 9y agoAbsolutely true. As a small business owner, the amount of regulatory and accounting overhead beggars the imagination. I only hire consultants, due to the lower overhead and paperwork burden - I couldn’t even imagine hiring an employee.
- nabla9 9y agoInflation is not the reason. Practically all savings give returns above the inflation. Interests respond to changes in inflation. If you look at the real returns, you can see that they are surprisingly stable. Fixation with nominal valuations is a sign of financial illiteracy.
- torstenvl 9y agoTotal taxation is at 26% of GDP in the U.S., 34% in much of the rest of the developed world. http://www.taxpolicycenter.org/briefing-book/how-do-us-taxes-compare-internationally http://www.taxpolicycenter.org/briefing-book/how-do-us-taxes...
- walshemj 9y agois that including health care costs? I don't think so from what my expat friends tell me
- observation 9y agoAre you sure Tax Policy Center can be trusted? Those numbers seem very low for Ireland. I'm willing to be wrong but something seems very off here.
- ab5tract 9y agoIreland is a notorious tax haven.
- observation 9y agoThat is so, I think probably taxation as a measure of GDP is too dubious a measure for connecting up with a normal person's experience of taxation, in the ideal world they should be related but evidently the devil is in the detail.