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This is why tax rates, especially at the top, should move together with changing "natural" wealth distributions. If technology and new business models are makin
by Analemma_ 9y ago
This is why tax rates, especially at the top, should move together with changing "natural" wealth distributions. If technology and new business models are making more "winner take all" scenarios and favoring a few top earners and highly centralized businesses, we don't need to try and shut them down by inventing market distortions, just make top tax brackets higher. Amazon doesn't need to get broken up and at the same time no one has to starve either because it killed their mom-and-pop shop.
Really, the current state of markets are such that we should have at least ~60% top marginal tax rates and treat capital gains exactly the same as income. Whether there's political will for that, I don't know, but it is the best solution.
- makmanalp 9y ago> we should have at least ~60% top marginal tax rates and treat capital gains exactly the same as income I agree on principle with this bit at least, but I'm pessimistic that a change like this could ever happen. It seems right now the cat and mouse game is around what counts as income and what doesn't, and increasingly complex methods of exercising control over some asset without ever "earning" it until it's beneficial to do so, if ever.
- eloff 9y agoTaxes can be part of the solution. But if you raise them too much people and companies find a way around it. They leave or they exploit loopholes. If the Panama papers taught us anything, it's that taxes will never be the whole solution.