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40% is also the typical government spending as the share of GDP (more in the EU, slightly less in the US). Being concerned with what taxes the rich pay or don't
by admissionsguy 2y ago
40% is also the typical government spending as the share of GDP (more in the EU, slightly less in the US). Being concerned with what taxes the rich pay or don't pay directly is just populist and not very interesting. The assets they own generate the taxes. I am more concerned with social mobility, which is decent the US, worse in Europe. As long as a decent chunk of billionaires are first generation, it's not a bad state of affairs.
- FpUser 2y ago>"Being concerned with what taxes the rich pay or don't pay directly is just populist and not very interesting." It is very interesting to me. Why FFS I should pay more than the person who makes infinitely more money? It is codified persecution based on wealth.
- robertlagrant 2y agoYou don't pay more. And when people own businesses, those businesses also pay taxes. And their employees all pay taxes. And when you buy something, you pay taxes. If you get a dividend, you pay taxes. It's all taxes, all the way down. You don't pay more taxes.
- FpUser 2y agoI was talking about personal income tax as a percentage of my income. Spending is discretionary and does not matter. Otherwise I have a proposal for you - let's get rid of income tax and replace it with sales tax. Also I do own business so no need to explain me all it's virtues.