3 ms·
Because the rewards just aren't there. Amazon is a company started by some guy in a garage and less than 30 years later it is one of the richest companies in th
by sbacic 5y ago
Because the rewards just aren't there. Amazon is a company started by some guy in a garage and less than 30 years later it is one of the richest companies in the world. Something like that just isn't going to happen in Europe - you'd be crushed by high taxes and regulation long before you reached that level.
Some Europeans will say that's actually a feature, not a bug. But look at what businesses are being started instead - neighborhood pubs and apartments for rent to tourists. Low-growth, low risk businesses with quick returns. What kind of jobs are these businesses going to create?
- iso1210 5y agoHow do "high taxes" crush a company? Do companies say "Right, I'm not going to make an extra billion this year because I'll be taxed at the EU average 20.7% tax rather than the US 21%"
- sbacic 5y ago> Do companies say "Right, I'm not going to make an extra billion this year because I'll be taxed at the EU average 20.7% tax rather than the US 21%" No, but their owners might go: "Given the risk, the potential returns and the taxes that I'd need to pay on said returns I'm better off putting this money into real estate, finding a cushy low-stress job and enjoying life instead."
- iso1210 5y agoWhy would the higher corporate taxes in the US encourage that? Cushy low strsss jobs and enjoying life are more likely in Europe thanks to social safety nets, which is great - means that 80% of the continent gets to have a nice life, rather than 1% hitting is big and 99% in wage slavery.