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However it also prevents hoarding wealth, which in turn prevents special interest groups and some forms of election manipulation. Balancing taxes for fairness
by enricozb 1y ago
However it also prevents hoarding wealth, which in turn prevents special interest groups and some forms of election manipulation.
Balancing taxes for fairness and innovation is quite tricky...
- logicchains 1y ago>However it also prevents hoarding wealth Hoarding wealth isn't a problem if no wealth creation happens in the first place.
- procaryote 1y agoAn exit tax in itself does nothing to prevent hoarding of wealth. It might enable you to deploy other taxes that would make rational people leave the country, but it's a bit of a "lock the doors and rob people" strategy. If you have good advisors as a wealthy person you know this and leave as soon as an exit tax is on the table. If you start new businesses you start them outside of the country If you're a regular non-wealthy person who happens to become successful you're stuck paying high taxes of course, but you'll probably learn and structure your next venture better.
- swexbe 1y agoMost businesses are not as portable as a tech startup.
- procaryote 1y agoOwnership is though.
- shankr 1y agoMost of Scandinavia is rife with old money. It's just that new entrants aren't allowed to build wealth. https://www.euronews.com/business/2024/04/01/wealth-inequality-where-in-europe-is-wealth-most-unfairly-distributed https://www.euronews.com/business/2024/04/01/wealth-inequali...
- enricozb 1y agoThis article seems to argue that the cause of the inequality is the lack of taxes