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What I see is that in taxes there is never enough. The always want to raise it higher and higher, until politicians confiscate all the wealth for their selves.
by Htsthbjig 12y ago
What I see is that in taxes there is never enough. The always want to raise it higher and higher, until politicians confiscate all the wealth for their selves.
In Spain we have 21% VAT taxes,and progressive over 53% maximum income taxes. If you have a house they add property taxes, and this year capital gains have been considered as income taxes.
It is not enough, politicians want at least 23% VAT, and the left party wants to raise the income taxes as it is "fair". They want to remove inflation coefficients so they could confiscate 50% of the value of everything you have when you sell it.
In the new year, people that sell old houses will have to pay more than 30% in taxes(30% of the principal, not the benefit).
Meanwhile we discover that they took the public money of the public banks(cajas) to basically pay themselves luxury life, each one expending half a million dollars in credit card expenses OVER their multimillionaire salaries.
Parties like the socialist party(PSOE),PSOE accepted checks of 50 million euros dollars from the cajas that never paid back.
They took loans from the European Union to help nonworking population, over 1000 million euros and gave it to their friends and family.
They destroyed all the wealth they could touch and you tell me that higher taxes are necessary?
- badsock 12y agoYou seem to be unnecessarily conflating taxation with corruption. There are plenty of places that collect high taxes that don't have that sort of routine unethical behaviour.
- adventured 12y agoWhich countries collect high taxes that don't have economic stagnation as a result of it? I can think of only a few out of ~195 countries in the last decade that have seen good economic growth with high taxation. Most of which have some other prop, such as oil in Norway.
- badsock 12y agoI was talking about corruption, not economic growth. I'll bite, though. The corrolation between high tax rates and economic growth is an incredibly partisan issue. There are lots of people saying that they are connected, but there are just as many saying that stagnation is much better corrolated to inequality (e.g.): http://www.imf.org/external/pubs/ft/sdn/2014/sdn1402.pdf http://www.imf.org/external/pubs/ft/sdn/2014/sdn1402.pdf I will say that if you look at the "quality of life for the average person" indicators (health and longevity, infant mortality, leisure time), the high-tax countries smoke the rest. So my argument is: even if your country's GDP is growing a little faster, why would you care if it doesn't make your life any better?
- adventured 12y agoIt's the same story that always plays out in countries that push the line into confiscatory taxation systems. France has seen horrific economic 'growth' for the last decade, less than 1% avg nominal growth per year over that time, and negative in real terms. They're famous for their high regulation, high taxation approach. Doesn't appear to be working out, as they're sliding into another recession right now, with unemployment spiking 1%, to a new all-time record high, in just the last few months. The only people that champion these types of systems, are either people ignorant of them in actual experience, or people that can benefit from the State graft. Much like fans of real Socialism or Communism. We're told the modern system of high taxes works better, and yet Europe is in a depression economically, and its GDP is still at or below 2006/07 levels, and in inflation adjusted terms is much lower. Meanwhile the debt keeps piling ever higher, and the economies keep requiring ever more stimulus to just stay at 0% growth. It's the end of the run for the failed Keynesian experiment.