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Except, the money is generally used to fund the basic functioning of society and benefits all citizens to a large degree somewhat equally - yea some % is lost t

by sottol 2y ago

Except, the money is generally used to fund the basic functioning of society and benefits all citizens to a large degree somewhat equally - yea some % is lost to inefficiencies but I doubt it's > 50%. But also, most individuals ultimately making use of these tax havens' competitive services do not choose to restrict themselves or their businesses to said tax havens only. They tend to want to live and do business in the higher tax societies with a broad middleclass to hire from and sell to, educate their children and tend to their, say, medical needs. I understand that one can just be(come) rich and "roll one's own" replacement for government services and eventually it's hard to see why you would even need gov't services in the first place but there will be sore losers. Otoh, I also understand that most voters would rather skimp a little on universal health insurance here, education and infra there to have a little more money at the end of the year to lease a brand-new SUV every 3 years.

OutOfHere 2y ago
> individuals ultimately making use of these tax havens' competitive services For what it's worth, there is an individual income tax that cannot be offshored in the same way. If the government's currency were fully backed by gold and/or other commodities, meaning if they were a representation of how many troy oz of gold+commodities are held in the government vaults, then paying taxes would be a more just (as in justice) activity. That's because the holdings wouldn't then lose value so rapidly. Currently the backing is in large part faith based, and there isn't very much faith left. The worth of the gold held by the US is $666 billion at $2550 per troy oz, whereas the unfunded liabilities of the US are at $218 trillion. > replacement for government services Very many of the government provided services are explicitly paid for anyway. There are massive property taxes and school taxes, sales taxes, electricity usage taxes, fuel and registration taxes, even garbage pickup fees in some locations, and local income taxes. The government is not providing very many services for free, although yes, I admit that some services like Medicare can be free which is a relief. Overall, I don't think the people are getting very good value for their total tax burden which exceeds 99% if you compound everything correctly.
katzinsky 2y ago
>the money is generally used to fund the basic functioning of society and benefits all citizens That's a very bold claim. I think in most developed countries almost the opposite has been happening. In the US it's been going toward "defense" companies and foreign countries as well as mass hordes of foreigners who hate us but like the free money. Maybe half of the tax revenue goes to maintain infrastructure and to help old/poor people who didn't immigrate here survive.

by sottol 2y ago

OutOfHere 2y ago

> individuals ultimately making use of these tax havens' competitive services For what it's worth, there is an individual income tax that cannot be offshored in the same way. If the government's currency were fully backed by gold and/or other commodities, meaning if they were a representation of how many troy oz of gold+commodities are held in the government vaults, then paying taxes would be a more just (as in justice) activity. That's because the holdings wouldn't then lose value so rapidly. Currently the backing is in large part faith based, and there isn't very much faith left. The worth of the gold held by the US is $666 billion at $2550 per troy oz, whereas the unfunded liabilities of the US are at $218 trillion. > replacement for government services Very many of the government provided services are explicitly paid for anyway. There are massive property taxes and school taxes, sales taxes, electricity usage taxes, fuel and registration taxes, even garbage pickup fees in some locations, and local income taxes. The government is not providing very many services for free, although yes, I admit that some services like Medicare can be free which is a relief. Overall, I don't think the people are getting very good value for their total tax burden which exceeds 99% if you compound everything correctly.

katzinsky 2y ago

>the money is generally used to fund the basic functioning of society and benefits all citizens That's a very bold claim. I think in most developed countries almost the opposite has been happening. In the US it's been going toward "defense" companies and foreign countries as well as mass hordes of foreigners who hate us but like the free money. Maybe half of the tax revenue goes to maintain infrastructure and to help old/poor people who didn't immigrate here survive.