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I don't know. What's the right amount of tax? Broadly, retail people like you and me, we don't have an opinion of a specific value, like 22% or 44% or whatever
by an_opabinia 6y ago
I don't know. What's the right amount of tax?
Broadly, retail people like you and me, we don't have an opinion of a specific value, like 22% or 44% or whatever, we just feel up and down or whatever. That's fine.
That notwithstanding: your business profits come from somewhere right? Maybe your customer's customers, seeing as it's probably a software business.
How much lower would taxes get until your customers spend money on health insurance / health catastrophes? On cars to replace a worse metro, or on apartments closer to work? On private schooling? On vacations out of the country?
What if people stopped moving to London? If its services got worse and people left, how could that possibly be good for anyone?
I don't really want to generalize why because I don't live there, it is of course an amazing place to live. Is the underlying problem that London and the UK, the way they are, are expensive?
What you wind up not paying in taxes, your customers will pay anyway, and maybe not even in a strict sense of Non Tax Compulsory Payments - the accounting mechanism typically used in the US - but simply to enjoy a high quality of life.
And maybe this is why so many low tax locales have such primitive economies, people are spending on other things besides sophisticated software services.
Ironically this aligns me still with a "right" amount of slightly lower tax. It's probably about 38-44%, and it ought to be simpler. I really don't like people leaving California, especially high earners, but I understand that they also blame tax for other grievances. So maybe the real takeaway is to not generalize, and instead support technocrats who can explain and analyze these issues.
- gher-shyu3i 6y ago> I don't know. What's the right amount of tax? Islam solved this problem a long time ago. Look up Zakat laws. For your cash in the bank that has been sitting for 1 year, it's an extremely reasonable 2.5%.