Chương 72: Tax the Rich, Here's a Modest Proposal
There are no realistic way for taxes to target rich. End consumer would pay 99% of the taxes always. You rise taxes - your economy suffers and your jobs emigrate to China. That's all.
https://disqus.com/home/channel/disqusunderground/discussion/channel-disqusunderground/tax_the_rich_heres_a_modest_proposal/#comment-4354413273
It works just to the moment when it won't work any longer - and it's too late to patch up whatever remained of your economy. It won't bend too far. It bends bit by bit. Then it just breaks.
Your businesses would be able to handle 1% more taxes than their competition abroad. They may be able to handle 2% taxation difference. But at some point the your businesses start moving to India and China and hire the workforce there. When they start large scale investments it's too late to reconsider. You lose your jobs AND you lose the taxes.
The same goes with the rich folk physical relocation.
https://disqus.com/home/channel/disqusunderground/discussion/channel-disqusunderground/tax_the_rich_heres_a_modest_proposal/#comment-4355130638
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