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the lower tax rate is an incentive to invest that money, which causes growth, which in turn causes more tax revenue from that growth. ya, there are people that
by konfusinomicon 5y ago
the lower tax rate is an incentive to invest that money, which causes growth, which in turn causes more tax revenue from that growth. ya, there are people that game that system, but there are far more people who benefit from such a tax rate and arent gaming anyone, just trying to live the dream and move up (to a deluxe apartment, in the skyyy). if anything, the tax on labor should be brought down, not the other way around. we are already taxed enough (atleast in the states we are!)
- mleonhard 5y ago> the lower tax rate is an incentive to invest that money Why do you think an incentive is needed? If the tax rate on investment gains was higher, do you think rich people would reduce the amount of money they invest? What would they do with their money other than investing it? > the tax on labor should be brought down Which government services would you cut to go along with the reduction in government tax revenue? Or would you put those payments on the next generation by borrowing?
- konfusinomicon 5y agothe incentive is not necessarily needed, but it does make that avenue to grow wealth much more attractive. if none, the richer would seek out other ways to grow that money that aren't as effective at growing the tax base, and in turn the economy. or they could just sit on it and grow their stack, passing it down as generational wealth, something akin to scrooge mcduck, swimming in his piles of money. as far as removing government services, I can't say exactly which ones I would cut, there are most certainly several, but the federal government needs to take a huge step back and allocate the money and power of many of its departments back into the hands of the state and local governments. there is too much nuance that the federal government doesn't understand about local communities that ends up inflating costs by ridiculous amounts because things are generalized across the entire population, and not tailored for the specific needs of a region.
- annoyingnoob 5y agoThe trickle-down approach of cutting taxes for the rich actually created a trickle-up and we have a huge disparity in wealth inequality. Lower taxes on the rich makes them richer at the expense of everyone else.
- DarylZero 5y agoIt has to. Wealth isn't stuff, but an obligation on other people to work for you.
- zionic 5y agoWealth is not a zero-sum game.
- 5y ago
- iso1631 5y ago> we are already taxed enough (atleast in the states we are!) US Government revenue is 32.5% of GDP, one of the lowest in the OECD