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Care to cite that second half? I know raising taxes to an extreme may cause some issues but I thought we currently have some of the lowest taxes on the richest
by apacheCamel 7y ago
Care to cite that second half? I know raising taxes to an extreme may cause some issues but I thought we currently have some of the lowest taxes on the richest people?
- WalterBright 7y agoThe US has maybe twice the average annual growth rate than Europe, if you compare the S&P500 with EU stock indices.
- apacheCamel 7y agoSure, but can that be attributed to the lax taxing on the rich? Or are there a slew of other things that could be causing this?
- WalterBright 7y agoLet me put it another way. If people weren't allowed to accumulate large amounts of wealth, would there still be SpaceX? Why is SpaceX in the US rather than Europe?
- ivalm 7y agoEurope is a very fragmented collection of independent countries with massive bureaucracy, lack of intercompatability, and historic division.
- WalterBright 7y agoPick a country that has a better long term economy than the US.
- ivalm 7y agoPick a country that has similar geo-historical background... it's hard, US is pretty unique. Closest would be something like Australia but they have too few people.
- WalterBright 7y agoLooks like neither of us know of any countries whose long term economics outperform the US.
- apacheCamel 7y agoI think what the user above you is trying to say is that there are many factors that go into economic performance. Tax on the wealthy is not the only factor and to say that is the reason for the economic advantage would be a bit of a stretch. Every country is very different in almost too many ways to get a real, true comparison.