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The tax burden is held by the middle class only in countries like Scandinavian and EU countries where capitalism has a heavy dose of socialism. Which only prove
by NoRagrets 4y ago
The tax burden is held by the middle class only in countries like Scandinavian and EU countries where capitalism has a heavy dose of socialism. Which only proves that it’s not a potent enough mix and just capitalism alone will keep the engines of a society running. Like in the United States.
Hands down, quality of life is better in the United States. It is a combination of low population density and commitment to capitalism. One can consider long vacations and lunch breaks as ‘better quality of life’, but I am mostly talking about access to material things and things like power and energy.
Generally access to free and/odd cheap energy is the gateway to better quality of life and abundance. Everything else is a solvable problem with policy and legislation. United States may be lacking in certain social metrics but it’s solvable. But where cheap energy is lacking, the economy( and eventually society) will decay and die.
Scandinavian flavour of socialism works because most have access to energy and have low population density. But even so, the burden is on the middle class. In California, otoh, [..] The richest 1% of California tax filers pay the largest share of their income in state and local taxes (12.3%), but the 20% of filers with the lowest incomes pay the next highest share (11.4%). [..]
This is why capitalism has single handedly raised quality of life world over(think India, Africa rather than Western Europe)than socialism or communism. Even China benefited from capitalism.
+ https://calmatters.org/explainers/the-open-secret-about-california-taxes/ https://calmatters.org/explainers/the-open-secret-about-cali...