4 ms·

> But my overall point is that taxes targeting the rich and super-rich will fail, as they always have and always will... Is that true though? Not long ago taxe

> But my overall point is that taxes targeting the rich and super-rich will fail, as they always have and always will... Is that true though? Not long ago taxes on the wealthy were much higher and income inequality was lower. Personally I have a kinder eye towards government; it’s A) not efficient by design, it’s meant to be comprehensive, and B) less wasteful then I think most people believe it to be.

seibelj 6y ago
During the supposed golden-age of high income taxes, rich people found many ways around it. For starters non-income compensation was astronomical (company car, company house, company domestic help, company lunches and dinners, company clubs, company-paid memberships, company outings / vacations) which were replaced with normal monetary compensation when the outrageously high taxes ended. I'm not sure everyone here understands exactly what I'm saying. If you can sometime, talk to a tax accountant / estate planner who specializes in tax minimization. If you are a W2 employee with some equity compensation, none of this applies to you. But if you were worth Nx millions of dollars there is a lot that can be done fairly easily.
- z3rgl1ng 6y ago
  I understand what you're saying, I'm reading it as "Well, they're just going to weasel out of it anyhow so we might as well not try." I'm offering this as a counterpoint is all. I also think that even though it might be hard, I don't think it's impossible. How do other countries with high taxation and strong social programs enforce it?
xyzzyz 6y ago
Can you show me on the following graph when did the era of high tax on the rich end? https://fred.stlouisfed.org/series/FYFRGDA188S https://fred.stlouisfed.org/series/FYFRGDA188S
- z3rgl1ng 6y ago
  I'm not familiar with the statistic - is that all tax revenue, including businesses?

4 ms·

> But my overall point is that taxes targeting the rich and super-rich will fail, as they always have and always will... Is that true though? Not long ago taxe

by z3rgl1ng 6y ago

seibelj 6y ago
During the supposed golden-age of high income taxes, rich people found many ways around it. For starters non-income compensation was astronomical (company car, company house, company domestic help, company lunches and dinners, company clubs, company-paid memberships, company outings / vacations) which were replaced with normal monetary compensation when the outrageously high taxes ended. I'm not sure everyone here understands exactly what I'm saying. If you can sometime, talk to a tax accountant / estate planner who specializes in tax minimization. If you are a W2 employee with some equity compensation, none of this applies to you. But if you were worth Nx millions of dollars there is a lot that can be done fairly easily.
- z3rgl1ng 6y ago
  I understand what you're saying, I'm reading it as "Well, they're just going to weasel out of it anyhow so we might as well not try." I'm offering this as a counterpoint is all. I also think that even though it might be hard, I don't think it's impossible. How do other countries with high taxation and strong social programs enforce it?
xyzzyz 6y ago
Can you show me on the following graph when did the era of high tax on the rich end? https://fred.stlouisfed.org/series/FYFRGDA188S https://fred.stlouisfed.org/series/FYFRGDA188S
- z3rgl1ng 6y ago
  I'm not familiar with the statistic - is that all tax revenue, including businesses?