5 ms·

> High taxes have a well-established negative effect on capital formation, and investment That's interesting because in absolute numbers countries with a very

> High taxes have a well-established negative effect on capital formation, and investment That's interesting because in absolute numbers countries with a very high taxation are among the first for number of millionaires. Japan is 3rd, UK is 4th, Germany is 5th, France is 6th, Italy is 7th Compared to the population, Switzerland and Honk Kong are 1st and 2nd In Switzerland taxes are usually low compared to the rest of Europe, but in Geneva they are 45.5%, the highest rate for Switzerland and yet is the city with the highest concentration of millionaires per square kilometer in the World, more than Monaco and SF. Millionaires in Switzerland are almost two times those of the US compared to the population (9.5k/100k vs 5k/100k) 4th is the Netherlands, 5th is Denmark and 7th is Sweden, three countries famous for their high tax rates but equally high social and economical wealth.

CryptoPunk 6y ago
>>That's interesting because in absolute numbers countries with a very high taxation are among the first for number of millionaires. >>Japan is 3rd, UK is 4th, Germany is 5th, France is 6th, Italy is 7th Nearly the entirety of the developed world has high taxes, and the developed world has the most wealthy individuals.
- romanoderoma 6y ago
  It must mean that high taxes don't have a negative effect on capital formation and that "developed" is more about fairness and justice of the system and not about "how many more billionaires there would be if the system was less fair?"
  - CryptoPunk 6y ago
    1. Development can roughly be summarized as a measure of per capita GDP. 2. The rest of the world has been gaining ground on the developed world over the last 50 years. A common pattern could be that countries institute sensible economic policies, based on what science (Economics) says works, and then when they get wealthy, become complacent, and adopt all sorts of anti-capitalistic policies that retard economic growth rates, which in turn results in all socioeconomic metrics stagnating.
    - romanoderoma 6y ago
      Economy is not a science US has the highest GDP in the World, the highest per capita spending in healthcare in the World and the lowest life expectancy in the entire west Unfortunately it also has one of the worst children mortality rate among the 36 most developed countries "Compared with other OECD countries, the U.S. ranks No. 34 out of 36 countries" https://data.oecd.org/healthstat/infant-mortality-rates.htm https://data.oecd.org/healthstat/infant-mortality-rates.htm Speaking of socio economic indicators, wanna talk about homicide rates in US, ten times higher than the European average and 1.5 times worse of Nigeria? It means that every 2 homicides in 100K citizens in Nigeria there are 3 in USA. It's easier to get shot and killed in USA than in Nigeria. Doesn't sound very developed nor that the system is working towards a better life for everybody. If you were right that would not be possible If fighting for the children to stay alive after being born is anticapitalistic, than BIG THUMBS UP for the anticapitalism Inequalities lead to very few living very well and the rest just surviving Which is a recipe for disasters
      - CryptoPunk 6y ago
        Economics IS a science. This anti-Economics bias rears its head whenever people find economic evidence contradicts their ideological narrative. It's similar to the anti-Medicine bias exhibited by anti-Vaxxers, who frequently cite the many mistakes made by the Medical establishment and orthodoxy, in an attempt to discredit it. >>Unfortunately it also has one of the worst children mortality rate among the 36 most developed countries The correlation between per capita GDP and quality of life is not perfect, yet it's there nonetheless. Pointing out an outlier doesn't invalidate my point that development is generally a measure of per capita productivity. And while we're on the subject: the US has unique attributes that have nothing to do with its economy, that result in higher infant mortality statistics. For example, the US has a much higher proportion of its population of sub-Saharan African ancestry, which is a cohort that has higher infant mortality rates in European countries as well. The US also has the best neonatal facilities in the world, with a much higher proportion of premature infants being counted as live births and subsequently cared for, than the norm in the developed world. Counting the deaths of premature babies as infant deaths, instead stillborn, is the biggest contributor to the US having higher infant mortality rates. The rest of your comment is you veering even further from the subject matter, to attack the US. This shallow and overly emotional treatment of Economics doesn't do the complexity and importance of the subject justice.

CryptoPunk 6y ago

>>That's interesting because in absolute numbers countries with a very high taxation are among the first for number of millionaires. >>Japan is 3rd, UK is 4th, Germany is 5th, France is 6th, Italy is 7th Nearly the entirety of the developed world has high taxes, and the developed world has the most wealthy individuals.

romanoderoma 6y ago
It must mean that high taxes don't have a negative effect on capital formation and that "developed" is more about fairness and justice of the system and not about "how many more billionaires there would be if the system was less fair?"
- CryptoPunk 6y ago
  1. Development can roughly be summarized as a measure of per capita GDP. 2. The rest of the world has been gaining ground on the developed world over the last 50 years. A common pattern could be that countries institute sensible economic policies, based on what science (Economics) says works, and then when they get wealthy, become complacent, and adopt all sorts of anti-capitalistic policies that retard economic growth rates, which in turn results in all socioeconomic metrics stagnating.
  - romanoderoma 6y ago
    Economy is not a science US has the highest GDP in the World, the highest per capita spending in healthcare in the World and the lowest life expectancy in the entire west Unfortunately it also has one of the worst children mortality rate among the 36 most developed countries "Compared with other OECD countries, the U.S. ranks No. 34 out of 36 countries" https://data.oecd.org/healthstat/infant-mortality-rates.htm https://data.oecd.org/healthstat/infant-mortality-rates.htm Speaking of socio economic indicators, wanna talk about homicide rates in US, ten times higher than the European average and 1.5 times worse of Nigeria? It means that every 2 homicides in 100K citizens in Nigeria there are 3 in USA. It's easier to get shot and killed in USA than in Nigeria. Doesn't sound very developed nor that the system is working towards a better life for everybody. If you were right that would not be possible If fighting for the children to stay alive after being born is anticapitalistic, than BIG THUMBS UP for the anticapitalism Inequalities lead to very few living very well and the rest just surviving Which is a recipe for disasters
    - CryptoPunk 6y ago
      Economics IS a science. This anti-Economics bias rears its head whenever people find economic evidence contradicts their ideological narrative. It's similar to the anti-Medicine bias exhibited by anti-Vaxxers, who frequently cite the many mistakes made by the Medical establishment and orthodoxy, in an attempt to discredit it. >>Unfortunately it also has one of the worst children mortality rate among the 36 most developed countries The correlation between per capita GDP and quality of life is not perfect, yet it's there nonetheless. Pointing out an outlier doesn't invalidate my point that development is generally a measure of per capita productivity. And while we're on the subject: the US has unique attributes that have nothing to do with its economy, that result in higher infant mortality statistics. For example, the US has a much higher proportion of its population of sub-Saharan African ancestry, which is a cohort that has higher infant mortality rates in European countries as well. The US also has the best neonatal facilities in the world, with a much higher proportion of premature infants being counted as live births and subsequently cared for, than the norm in the developed world. Counting the deaths of premature babies as infant deaths, instead stillborn, is the biggest contributor to the US having higher infant mortality rates. The rest of your comment is you veering even further from the subject matter, to attack the US. This shallow and overly emotional treatment of Economics doesn't do the complexity and importance of the subject justice.