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Because when you try to increase taxes on income and capital for the rich, the very rich always manage to loophole their way out of it and the middle class gets
by kqr 4y ago
Because when you try to increase taxes on income and capital for the rich, the very rich always manage to loophole their way out of it and the middle class gets screwed over. Guess who votes?
- candiodari 4y agoPlus the very rich, the ones meant here, don't represent a decent part of the total. What you will effectivly destroy, going after "income and capital for the rich", first and foremost, are pensions. That's where the majority of FANG (and other) profits go to: paying people's pensions.
- kqr 4y agoI'm not sure I follow. Even if what you say is true, government with sovereign currencies can tax the capital and still pay out just as generous pensions. They just have to tax capital even harder to keep inflation at bay. No? Basically if you look at taxation as a way to destroy money, and then you focus taxation on things you want to discourage (too high concentration of capital, unhealthy habits, environmental impact, etc.) you can incentivise and disincentivise whatever you want.