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It's a Tax problem and a Socialism problem more than culture problem. Socialism means taxes, and high taxes stifle innovation.
by personomas 4y ago
It's a Tax problem and a Socialism problem more than culture problem. Socialism means taxes, and high taxes stifle innovation.
- throwaway2037 4y agoDo you think total tax burden is materially higher in Canada than the United States? For high earners, I doubt it. And this: high taxes stifle innovation I laugh when I read comments like that. If that is true, why are the most innovative countries also the richest and have high tax burdens? The top half of OECD (GDP per capita) all have high tax burden. It's hard to have a highly developed economy with a gov't that provides a good social safety net on less than 30% of GDP collected as taxes. Ref: https://www.oecd.org/coronavirus/en/data-insights/tax-to-gdp-ratios https://www.oecd.org/coronavirus/en/data-insights/tax-to-gdp... I would chalk it up to size of internal market -- only ~30 million -- more than anything else. Canada has produced loads (loads!) of brilliant computer scientists over the years. Sadly, they all seem to move to the US and get rich.
- personomas 4y agoI'm talking about corporate tax and VAT, I'm not talking about personal income tax. EU has quite higher corporate tax and VAT than US' corporate tax and sales tax. My argument is not against high taxes through personal income tax and property tax. It's against corporate tax and VAT/sales tax.
- throwaway2037 4y agoIreland has one of the lowest corporate tax rates in among highly developed nations. And, in Holland, it is so easy to avoid corporate tax with transfer pricing via the Carribean. But yes, corporate taxes are high in France, and hard to avoid.