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Spain GDP per capita 2008: $35,603 2024: $35,297 US GDP per capita 2008: $48,570 2024: $85,809 Seems to be working great!
by 0xy 1y ago
Spain GDP per capita
2008: $35,603
2024: $35,297
US GDP per capita
2008: $48,570
2024: $85,809
Seems to be working great!
- toomuchtodo 1y agoWealthy people continue to reside in Spain as a tax resident subject to a wealth tax on global assets. It clearly works to raise tax revenue versus “meaningless line goes up.”
- bot403 1y agoAre you implying a wealth tax stunts GDP? I'd love to see some evidence and thought behind that implication rather than a cheeky quip.
- 0xy 1y agoThere's tons of research showing that excessive taxation drives wealthy people out and shrinks the economy. France tried it and reversed course when it was a disaster economically. The UK is currently experiencing an exodus of wealthy taxpayers due to high tax burdens. If you want to kill your economy, the fastest way to do so is by ripping off those who employ most of the economy through their business ventures. https://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.34.2.119 https://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.34.2.119
- seanicus 1y agoThere might be a little more going on with Spain's (and the US's) economy than just Wealth Tax.
- JBlue42 1y agohttps://www.youtube.com/watch?v=eiymTzsZfoA https://www.youtube.com/watch?v=eiymTzsZfoA