Do you consider yourself more left or right wing?

[bdbdbd]

GoOnKid said:

bdbdbd said:

And when "today's 1%" move away, we have new 1% to tax because people who moved away are not paying their taxes to your country anymore. They aren't making the same as the previous 1% so we need to raise their taxes even more to make up for the lost revenue. 

The point is that the power distance is hurting more than it benefits. Which solutions do you suggest?

It depends on what we want to do. If we want to get rid of the rich, raise taxes until they leave or they are poor. If we want to maximise tax revenue we need taxes low enough so that the rich live and move to your country to pay taxes. If we tax to rich to pay better benefits, are we going to cut the benefits when the rich leave? Many countries are facing this problem at the moment because of the 2000's populism where politicians have been buying votes by promising voters better benefits. At the moment we have a situation where government programs subsidise lowsy wages and these people are complaining about not getting enough benefits. And why do they do so. Because better wages would just cut their benefits.

When the increased tax revenue is used in more public spending, there's no amount of taxes collected that would be enough. When the income after taxes is low enough, it hurts the economy because people stop buying the expensive local products and services and buy cheap imports instead.

It's always "tax the rich" but the majority of increased tax revenue comes from the top 10% or top 20% of earners anyway instead of "1%".