Soooo, there is no trickle down and that took 40 years+ to find out.
Well the issue now is that capital moves so freely that it became a piece of cake to avoid taxes.
> published by LSE’s International Inequalities Institute
Sounds like an agenda based organization found the result they were hoping for.
In any case, what do rich people do with their income? They invest it. Taking that money away leads to less investment. If the taxes are high enough, the rich people leave, like they're leaving New York City, taking their business elsewhere.
>Sounds like an agenda based organization found the result they were hoping for.
Sounds like it is not the result you hoped for your agenda.
>If the taxes are high enough, the rich people leave, like they're leaving New York City, taking their business elsewhere.
That's a convenient shortcut that i keep hearing, but for me it is just scaremongering. Why would they take their business with them if it makes money?
Rich people investing in unproductive stores of value like the stock market provides little benefit. You can only spend so much and after that point the money is largely saved.
> Rich people investing in unproductive stores of value
Rich people get rich by investing in productive enterprises, not unproductive ones. It stands to reason that rich people are quite a bit better than average at finding productive things to invest in.
And raising taxes doesn’t result in better living conditions or services. For example see California. Given that, it seems fairer for two parties voluntarily transacting with each other to do so freely without an ineffective government reaching in for a share they don’t deserve.
