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this post was submitted on 30 Aug 2023
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Finance
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I'd love to see a study into what happens in countries that raise taxes on the rich. Do they all leave, as they constantly threaten to if taxes are raised? Do they find ways to dodge it? Or do they just pay it and life carries on?
That's Europe, right? The countries with universal healthcare, reasonably maintained infrastructure, and generally high standards of living? I don't know, I don't think it would work in the US. Too much Freedom™ here to overcome.
Even a lot of European countries don't tax the wealthy as much as they could/should! The public services and infrastructure tend to be funded by a higher tax burden on the lower and middle classes, combined with borrowing (for example, France). And the UK is absolutely terrified that all the rich people would leave if they had to pay their fair share. Given their rentier capitalism contributes virtually nothing to productivity or public services, I think we should call their bluff.