> if you want to save for a deposit to buy a house, spend time on education and getting a better job, you'll get hit by much higher tax and it will take ages to

> if you want to save for a deposit to buy a house, spend time on education and getting a better job, you'll get hit by much higher tax and it will take ages to save anything. I actually disagree. The issue isn't the tax rate, the issue is the arms races we have embedded all over our economy. Take housing, for example. No matter what you put as your tax rate the people in the region are going to compete for the limited amount of housing stock. The same is true for premier universities or top medical care. These arms races in our economies are eating up all the real productivity gains we've made in physical goods. If you compare the cost of a small home across time in something physical like eggs the cost has absolutely sky rocketed and it has nothing to do with tax. There are certain sectors of the economy that the market can't produce more of efficiently, like housing.