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Ive heard tax evasion rates were much higher historically, and that though tax rates were considersbly higher and taxes more complicated, many people simply did
by wegfawefgawefg 3y ago
Ive heard tax evasion rates were much higher historically, and that though tax rates were considersbly higher and taxes more complicated, many people simply did not pay. The simplification of taxes and reduction may have resulted in a larger amount of collected taxes.
Do you suspect if taxes were set to 99% that people would honestly pay them? To me it seems like a solution to two equations intersecting. Find the number that maximizes willing participation (a decreasing function of rates) and maximizes tax revenue (an increasing function of rates).
- anonymouskimmer 3y agoWith appropriate funds to the revenue services it's easier to flag and investigate likely tax evasion these days than in days of yore.
- scotty79 3y ago> Do you suspect if taxes were set to 99% that people would honestly pay them? Truly rich have most of their money in assets like real estate and companies. And goverment through laws is in control of what it even means to own those things. Government could make a law that when any company goes public 20% of shares are a tax.