Do you consider yourself more left or right wing?

[bdbdbd]

zorg1000 said:

bdbdbd said:

But they do. If income tax is raised, you need to raise wages so that you earn same as you did before, which turns to raising prices for customers.

If you tax wealth - which usually is shares or apartments and such - your wealth need to create more income to pay the taxes. More dividents require higher prices, you need to raise rents if they tax your apts you're renting and so on.

The money has to some somewhere always and in a modern capitalistic society it comes from the market.

Like Rol said, nobody is talking about raising income taxes on working/middle class households, the discussion is always about increasing taxes on the rich.

Also, is there any evidence of tax rates and inflation being directly correlated?

Top Income Tax Rate

1991-1992, 31%

1993-2002, 39.6%

2003-2012, 35%

2013-2017, 39.6%

2018-2025, 37%

Top Corporate Tax Rate

1988-1992, 34%

1993-2017, 35%

2018-2025, 21%

Top Capital Gains Tax

1987-1997, 28%

1997-2003, 20%

2003-2012, 15%

2013-2025, 20%

Over the last ~35 years we have seen tax rates on income, profits and investments fluctuate and for the most part, inflation has been pretty stable. From 1991-2020, inflation averaged 2.3% per year and we only saw a notable surge in 2021-2023, which were not accompanied by any tax increases or cuts.

On top of that, we have to factor in what the taxes are being used for. Lets say you’re right and the higher taxes are causing the price of consumer goods to increase but those taxes are being used to invest in healthcare, childcare, elder care, education, housing, nutrition, infrastructure, manufacturing, climate change, research & development, etc.

I will gladly take increased prices on consumer goods if that means quality of life in increasing for the average person.

And as I said originally is, that that's the misconseption people have. They think "taxing the rich" is taxing the top 10 people, not the top 10% earners.

This tax rates for USA? I think you're proving my point about the low tax rate. Low taxes are the reason why so much of the western capital is in the USA.