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Not just percentage but a progressive percentage. So they paid even a higher percentage already! I could understand wealth taxes in a deflationary environment
by zaroth 4y ago
Not just percentage but a progressive percentage. So they paid even a higher percentage already!
I could understand wealth taxes in a deflationary environment only. In an inflationary environment wealth taxes are an abomination.
Instituting them against only the ultra-wealthy is just “boiling the frog” as the income targets will only possibly go down over time.
- permo-w 4y agoyou’ve got that the wrong way round. tax raises reduce inflation
- TigerTeamX 4y agoTaxes increase inflation. You buy a steak at a restaurant. If they have to pay 50% extra for their employees in tax, and 50% extra for the meat then it will be more expensive for them to sell you the steak.
- Matheus28 4y agoModern Monetary Theory disagrees with you. Increasing taxes reduces spending & money supply, thus reducing inflation.
- TigerTeamX 4y agoI don't take MMT serious. It has been wrong about almost everything. The theories are just theories without substance or evidence.
- vkou 3y agoThe detractors of MMT have been wrong far more consistently than it has been.
- deleted 4y ago[deleted]
- rad_gruchalski 4y agoWhich in effect leads to everyone wanting more money. So everything starts costing more. Thus inflation goes up.
- kevviiinn 4y agoTax raises reduce inflation because hoarding money increases inflation. These people don't spend their money, they borrow against their assets. Taxing that hoarded money beings it out of the dragons' dens and back into circulation
- AnIdiotOnTheNet 4y agoSome day people who only ever took econ 101 and decided that they therefore understand completely how a complex set of interrelated systems work will realize that they're suffering from Dunning-Kruger effect, but apparently it won't be today.
- permo-w 3y agoaccusing others of the Dunning-Kruger effect is rarely a sign of a healthy mind
- AnIdiotOnTheNet 3y agoIs accusing others of having mental health problems less so, I wonder?
- permo-w 3y agoI suspect that implying someone is unhealthy is less unhealthy than implying someone is stupid
- TigerTeamX 4y agoCan only agree with you ;)