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It's definitely imperial, but it's kind of fundamentally an imperial problem to have companies taking advantage of your world-leading economy, then moving all t
by danenania 7y ago
It's definitely imperial, but it's kind of fundamentally an imperial problem to have companies taking advantage of your world-leading economy, then moving all the profits elsewhere to avoid contributing to the society that made all their success possible.
Extradition is also imperial, but without it you effectively offer impunity to anyone who can get out of the country before they're caught. We don't offer this type of criminal impunity, so why are we offering tax impunity to the wealthiest and most powerful entities in the world?
The VAT idea is interesting and sounds a lot better than what we have now, but still seems like it could be subject to shell games in terms of what gets spent where. Wouldn't it also be extremely complex from a reporting perspective?
- iguy 7y agoBut not just your economy, I'm sure China feels the same way, as will the EU once they see what you raise... I think the recent reductions in the US tax are moves in this direction, which is good. And what else to tax, lots of countries administer VAT, it's not so difficult, and seems quite hard to dodge. But there are lots of other taxes, too. Income tax + 401k starts to sound like a consumption tax, too, only paid on what you spend right now, like VAT. We can adjust that however we like. And before the profits in Ireland can be turned into a bigger yacht for any owner, they have to be paid as dividends (or by selling shares) by some real person who lives somewhere, and we can tax that.