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Originally r/DataisBeautiful
(Don’t take this map too seriously, I found it on another social media, not an academic paper).
"If we tax the rich, they just move to another country!1!!1!"
Yea, we will tax them there too. And take half of your hoard when they move. You stole long enough from us...
Let's all sign international tax agreement so the rich can't flee, and if they do : requisition by the workers. Seems fair to me.
Who cares if they flee. The people shall then take control of their assets they leave behind!
The real estate, factories, etc they leave behind. Leave it to the people!
Mhmm if you runaway from paying your share then everything you own in our country is no longer yours. When you try to come back later your ass is going court, sucks to suck.
This is a beginning https://en.m.wikipedia.org/wiki/OECD/G20_Inclusive_Framework
And of course Trump is using bullying as a means to keep his rich friends/circlejerk rich.
I still don't understand why the EU didn't just buckshot the shit out of it, but just keeps saying "we might do it back".
I hate that argument.
"People who are taking more than they give will leave if we ask them to pay their fair share!"
Fucking grand, get out. Or better yet, pay up. Best case, pay and leave.
The argument that makes more sense I've seen in this line of thought is that it will stop NEW investment in your country by people on the outside. If someone is expanding and considering your country or another with less taxes, they will go there and not give your country the value growth of their business, leading to less taxes for you. The low tax is incentive to come invest.
On the surface sure but in reality I kinda double down. Like if future dodging taxes is a requirement for you investing then like, no thanks? Cuz the people really paying the taxes long term will be the middle and lower class again
Same. But I think their argument is that the investment is a net positive, but only if you actually get them to invest in your country and not the neighbours.
I can see why they would think that, but I agree with you that in reality it isn't beneficial.
Id rather have internal companies invest in that hole in the market than reduce the taxes to have someone foreign invest in it, while moving a lot of that money out, leaving a tiny surplus. It would be better for that internal investment to leave a LARGE surplus, and have no money leave.
The rich are rich because they own real physical assets, like the supermarkets, utilities, factories, etc. It is very difficult for them to move these assets with them overseas.
A really good example of this is Roman Abramovich, a Russian oligarch who owned the Chelsea FC. The UK government sanctioned and froze Abramovich's assets due to the Russia-Ukraine war, and Abramovich was forced to give away Chelsea FC.
Wait, you mean the people that use our resources and don't pay taxes would go away?
Man, that sounds so awful.... What would we do without them.....
As you have no uncovered their main excuse: We are forced to close those jobs and move them over to China/India/anywhere else because we can't maintain the current prices and taxes.
Shoutout Norway.
Tax the rich more and put in place a general wealth cap. You can’t have more than say $100,000,000 and that is already a ridiculous sum for anyone person to have. If you are found to be over the limit then anything you own here can be taken to get you under the limit. Land and property can be taken, stocks can be taken, cash directly can be taken.
Also introduce a ban on private jets and yachts, you absolutely need to fly somewhere for a meeting? Join us plebeians on normal flights then, otherwise learn to use zoom and other such tools. A ban on yachts doesn’t mean a ban on all boats, normal smaller boats are fine, cruise ships, cargo ships and tankers are as fine as ever. Just means none of your luxurious mega yachts for you and your rich buddies anymore. Again join us plebeians at the bottom for a change so you understand what it’s like.
If you have $1 billion, you win capitalism. You get a trophy and all your money is taken away so you can start the game over again on a harder difficulty.
New Capitalism+
The people of Russia, Turkey, and Germany can tell they’ve been swindled by the Oligarchs for far too long!
And spain, don't forget spain.
Yes. And many of them, especially Catalans (wink), have some decent firsthand experience on what the people taking control of the means of production looks like.
That’s still a lot of delusional temporarily embarrassed millionaires…
Now find a map of wealth inequality and see how well they correlate.
I think Slovakia has the lowest wealth inequality in europe (measured by GINI index) atleast it did in 2020. And 63% here say they want to tax the rich more.
What’s going in Estonia?
High on tech bro neoliberalism. Literally.
Probably progress being made such that people are fine with the status quo
Bad memories from Soviet times and high economic growth.
To me the issue is caused by how we determine how much tax is paid.
If you're wealthy, you can structure your income in such a way that you are not earning any and therefore don't need to pay tax on that "non-existent" income.
It's also how the multinational companies structure their finances to make little or no profit except in the lowest taxing country around where "all" their "profits" are taxed.
In other words, we need to restructure the tax system globally to measure income and profit differently instead.
With the current crop of Neanderthals in charge, it's unlikely to happen in our lifetime unless something drastically changes. I'm not holding my breath.
The "use assets as collateral to get a loan, and loans aren't taxed as income" thing needs to be patched out. There are probably many other exploits but that one seems like an easier fix.
add me to the list but I am on another continent.
This is why representative democracy is flawed. Nobody holds the elected officials accountable if they don't handle according to the population's opinion. I wish more countries included some direct democracy measures, too.
What a fucked up democratic system(s) where such an overwhelming public support doesn't get shit done immediately.
Well, as it turns out, it's "not the worst", but that is no consolation.
"But then the rich/companies will move to another country!" Better have them pay not enough taxes here (and exarcebate the problem) than not having them pay taxes i guess.
Second Russian Revolution when?
What we need is an actual playbook that gives a step-by-step guide towards taxing the rich. Contrary to what many people believe, it's actually a bit tricky to avoid loopholes and other problems.
It makes sense to discuss these measures in detail, before they are implemented; in other words: now.
Ah, I thought these were the top marginal tax rates.