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this post was submitted on 29 Oct 2024
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No Stupid Questions
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No such thing. Ask away!
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Something I never see mentioned is the risk of "brain drain". If you tax the rich too heavily, there's a possibility that they'll just move to another country with lower taxes, taking their companies (and jobs) with them.
That's not brain drain. Brain drain is when high qualified people leave their country, mostly because of the lack of infrastructures costing them opportunities for studying or working in their respective field.
What you're talking about is capital flight. This is an issue that is systematically raised as a counter-argument by liberals in debates on taxation. The problem is that it is seriously overestimated:
Which liberals are defending heavy taxation of the working class?
Not so much defending heavy taxation on the working class specifically, instead focusing solely on why the wealthy and mega corps have to have a low tax rate
They don't
Not sure if I agree. If you'd do that you'll lose CEO's, not the highly skilled workers that actually do the work..one might wonder howuch would be lost there.
Also, where would they go? Any developed country will have it much, MUCH "worse" for them than the US and the alternative is moving to heavenly places like Russia or China. Good luck with that.
You're equating wealth with intelligence. Bad take.