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>Taxing the rich at high rates and ensuring that lifestyles are slightly more equitable will enable everyone (both rich and non-rich It doesn't work this way.

>Taxing the rich at high rates and ensuring that lifestyles are slightly more equitable will enable everyone (both rich and non-rich It doesn't work this way. Ambitious people either just move to a county that's more open to business, bringing jobs and economic growth there instead, or they go into politics and get rich just by leeching off the economically productive populace, like corrupt officials in Russia and China. Europe is a good example of this: it's got the highest tax rates globally, and some of the lowest GDP growth rates (and number of new businesses) in the world. People in France, Germany and the UK are seeing their standards of living get worse year by year, not better

vel0city 3y ago
A place can still be good for business and still tax personally wealthy people at a high-ish rate. Sane and easy to understand regulations, fast and competent permitting processes, good labor stock, easy capital access for business growth, etc. are all separate from making extremely wealthy people pay 35% effective tax rate instead of only like 10%. https://projects.propublica.org/americas-highest-incomes-and-taxes-revealed/ https://projects.propublica.org/americas-highest-incomes-and...
MSFT_Edging 3y ago
Trickle down economics is a myth. You cant just shout "Job Creator!" enough to make it matter. You(a nation-state government entity) has the power to drag someone back home to pay their taxes. If Apple went 100% based out of Ireland, you could tariff the hell out of Apple products until their sales drop to zero. You can put sanctions on places that run offshore bank accounts where people hide their money. You can nationalize industries that are falling apart due to the requirement to increase profit, ie rail infrastructure. The issue is why would the elected officials who benefit from this, do something to counter it. They're fine with an inequitable world governed by the Koch Brothers' school for business fairy tales. The economy is a sham, the government could pay people to run the farms and clothing factories and stockpile the excess rather than burn it to create scarcity. There are other ways to live beyond this narrow system of faux economic sciences.

vel0city 3y ago

A place can still be good for business and still tax personally wealthy people at a high-ish rate. Sane and easy to understand regulations, fast and competent permitting processes, good labor stock, easy capital access for business growth, etc. are all separate from making extremely wealthy people pay 35% effective tax rate instead of only like 10%. https://projects.propublica.org/americas-highest-incomes-and-taxes-revealed/ https://projects.propublica.org/americas-highest-incomes-and...

MSFT_Edging 3y ago

Trickle down economics is a myth. You cant just shout "Job Creator!" enough to make it matter. You(a nation-state government entity) has the power to drag someone back home to pay their taxes. If Apple went 100% based out of Ireland, you could tariff the hell out of Apple products until their sales drop to zero. You can put sanctions on places that run offshore bank accounts where people hide their money. You can nationalize industries that are falling apart due to the requirement to increase profit, ie rail infrastructure. The issue is why would the elected officials who benefit from this, do something to counter it. They're fine with an inequitable world governed by the Koch Brothers' school for business fairy tales. The economy is a sham, the government could pay people to run the farms and clothing factories and stockpile the excess rather than burn it to create scarcity. There are other ways to live beyond this narrow system of faux economic sciences.