I’m not saying it doesn’t ever happen, but we really need to stop talking about it like it’s such a serious threat to the country’s financial stability that we should chicken out and stop taxing the rich.
The billionaires in all those other tax haven countries also repeatedly make the same threats to their own governments too. They’re playing us for chumps.
it’s such a serious threat to the country’s financial stability that we should chicken out and stop taxing the rich.
No one’s saying this, this is a straw man.
It’s just a simple fact that there is a ‘sweet spot’ when it comes to maximizing tax revenue. It’s the same as if you’re selling a product for $10, then 100 people buy it, and you assume that you’ll double your $1000 profit if you sell it for $20 instead, but then the number of buyers went down to 10, and now your bottom line is $800 less, instead.
“Just tax them more” is not the simple/obvious solution it appears to be on the surface. Also, people don’t just not react when stuff like this changes, to protect themselves; just compare tax revenue presently to what it was when it capped out at (iirc) 91%.
And even IF ‘turning that dial’ simply increased tax revenue, it needs to be combined with that revenue being spent productively, for it to make any difference at all. Hell, I think the US already brings in more than enough tax revenue to do everything we want it to do, if it was doing it as efficiently as it could be.
skisnow@lemmy.ca 2 days ago
I’m not saying it doesn’t ever happen, but we really need to stop talking about it like it’s such a serious threat to the country’s financial stability that we should chicken out and stop taxing the rich.
The billionaires in all those other tax haven countries also repeatedly make the same threats to their own governments too. They’re playing us for chumps.
damnedfurry@lemmy.world 2 days ago
No one’s saying this, this is a straw man.
It’s just a simple fact that there is a ‘sweet spot’ when it comes to maximizing tax revenue. It’s the same as if you’re selling a product for $10, then 100 people buy it, and you assume that you’ll double your $1000 profit if you sell it for $20 instead, but then the number of buyers went down to 10, and now your bottom line is $800 less, instead.
“Just tax them more” is not the simple/obvious solution it appears to be on the surface. Also, people don’t just not react when stuff like this changes, to protect themselves; just compare tax revenue presently to what it was when it capped out at (iirc) 91%.
And even IF ‘turning that dial’ simply increased tax revenue, it needs to be combined with that revenue being spent productively, for it to make any difference at all. Hell, I think the US already brings in more than enough tax revenue to do everything we want it to do, if it was doing it as efficiently as it could be.
skisnow@lemmy.ca 2 days ago
…and then you go on to spew exactly that talking point at length.
damnedfurry@lemmy.world 2 days ago
Where did I “exactly” say we should stop taxing the rich, liar?