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They are trying to trick you into thinking more taxes (and therefore more government) is a good idea, when the better idea is just enforcing antitrust law agai
by snapplebobapple 2y ago
They are trying to trick you into thinking more taxes (and therefore more government) is a good idea, when the better idea is just enforcing antitrust law again because the problem isnt rich people, its the market power their corporations can exert. Amazon isn't the problem. Amazon being able to exert marketpower to abuse their customers and suppliers is. The solution is outlawing bad practices up to breaking up the market power abusing company if mitigation doesnt seem possible.
also, it is extremely annoying when people mislead by looking at personal income tax without adjuating the effective tax rate up by what has already been paid by the corporation. Dividend and cap gains taxes should be lower because the corp pays tax and how a dollar is earned shouldnt affect the tax paid on it. The goal is for the corp tax plus the dividend/cap gains tax to roughly equal what the tax would be if the person just earned the dollar personally and it largely does that at these rates.
- PorterBHall 2y agoMore taxes or better tax enforcement doesn’t necessarily mean more government. Those revenues can be applied to closing the budget deficit and even paying down national debt, as the Clinton administration was able to do in the 90s.
- snapplebobapple 2y agoLets ignore that it's not really clear that Clinton raised taxes (he increased the income tax rate but dropped the capital gains tax rate, which is pretty unclear as to effect because it took a while for people to adjust their tax strategy to move as much as possible to capital gains). What happened under Clinton was primarily the same thing that happened up here in Canada, the dotcom caused a massive inflation in income as the stock bubble grew and was crystalized. It primarily wasn't more taxes, it was the taxes we primarily already had taking a share of a bigger pie. Overwhelmingly this isn't what happens though. Overwhelmingly more taxes mean more government in a historical context.