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While rich people avoid taxes all the time and many of them outright evade them illegally, the focus of narrative entirely on how this causes public finance pro
by southernplaces7 3y ago
While rich people avoid taxes all the time and many of them outright evade them illegally, the focus of narrative entirely on how this causes public finance problems is a joke.
Modern states, especially large modern states, annually obtain absolutely gargantuan amounts of money and spend gargantuan amounts of money on all sorts of projects that very, very often are at best of dubious value and in all cases often managed in ways that make them far more expensive than they could be. Other vast amounts of that state spending are even outright destructive or purely criminal, with hundreds of billions per year going to military campaigns or support for different interests that are entirely motivated by power games.
Why should all this never be profoundly questioned? Why should it never be strongly questioned why a major state like the U.S. with an annual budget in the multiple trillions, which regularly spends hundreds of billions on absolute black holes of public finance, might not trim or change some of that spending?
At the same time placing all fashionable NGO and media focus on the far smaller amounts evaded by billionaires is nearly absurd in how unbalanced it has become, but then, they're easy whipping boys (and girls).
Even if you took all the wealth -not income or revenue but total wealth- in all known forms from all of the world's 2,688 known billionaires right now and applied it to public spending, its totality would barely cover the annual budget of the U.S. alone for more than 2 years. It would cover only a tiny fraction of the total pending outlay of the U.S. National Debt.
Again, this is just as the above applies to one country. Yet, it's the billionaires (and i'm no fan of them in many, many ways) that should be the explicit focus because of their tax avoidance schemes? I'd say that far larger issues exist with the sheer size of modern state spending, along with its scope and management problems.