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The pressure to grow stems from the massive amount of wealth that can be harvested from growth. The only way to curtail that is with economic policies that puni
by Hemospectrum 4y ago
The pressure to grow stems from the massive amount of wealth that can be harvested from growth. The only way to curtail that is with economic policies that punish investors for getting too rich too quick, but almost all such proposals are instantly dead in the water as soon as anybody speaks their names.
- sschueller 4y ago+90% tax on capital gains and taxes on loans taken out against capital. Only limited exemptions for retirement funds etc.
- pverghese 4y agoAll those billions would move out of the US into other countries where the tax regime is more favorable.
- snarfy 4y agoThose companies are in the US for more reasons than favorable taxes. Try moving a company to China and see how it goes.
- Foobar8568 4y agoTry moving to Luxembourg, Ireland, Switzerland, the dozen of small islands with special states from UK, US, and some other countries, Singapore... Plenty of choices and its already the case. Look at Cargill legal structure (e.g. search Cargill International Luxembourg for a good laugh)
- sschueller 4y agoThe US can impose this on other countries easily. You don't comply you don't get to touch the USD, no bank can survive without it (at least right now). The OECD recently even got Switzerland to agree on the global minimum tax. Sure you can still go to Russia or China but these companies really want to take that risk?