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Europe has most of what you are saying should be done to reduce inequality. The real problems stem from bureaucracy and lack of a central government.
by 0xfaded 6y ago
Europe has most of what you are saying should be done to reduce inequality. The real problems stem from bureaucracy and lack of a central government.
- bwb 6y agoKinda, you would be amazed that they are lacking a lot of those. Inequality in Germany is close to the USA for example. It will be interesting to see what it looks like in 25 years. A lot of cool stuff is happening behind the scenes. Europe has some really bad policies around not letting companies die that need to die. It is really hurting them. I am hopeful that they can remap labor policies to allow for more flexibility to compete with the USA while keeping a real social safety net through payroll taxes and government "insurance". Europe also needs better bankruptcy laws to allow for people to start over. The USA has the best bankruptcy laws in the world right now IMO. Europeans can't afford to take risk or access capital because of some of these policies. I am living in Spain btw, about to move to Portugal. I am leaving because of the Wealth tax here is so poorly thought out it would take 60%+ of my income and I couldn't live on what remains. Especially since I am starting a new business. Note - We could also stop the step up clause for inheritance which makes me angry. So that when someone dies and the assets pass to someone else they pay capital gains instead of zeroing it. This is such a loophole for rich people.