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by jajko
705 days ago
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Taxes for rich are never any significant contribution to economy, not for places we talk about. They please poorer voters though, some sort of schaden freude that keeps the focus away from corruption, inefficiencies and massive structural problems in economies and lack of will or skill to tackle them by politicians (and lets be honest, 4-year election cycle ain't enough to fix big problems anywhere even for the best ones, especially if next voted government wipes it clean). But what taxing rich accomplishes is that all those investors and high flying managers who are very smart and well educated in tax systems avoid such place as much as they can. Thats why Depardieu run off to Russia from France and its draconic system. And so did many others, ie to Switzerland, one of most famous is Alain Delon. And thousands of other, less known or unknown yet rich names. It may be un-intuitive for unaware, but really don't punish your wealthy too much, they can leave almost anywhere and they often do to protect their wealth. Punish them just enough that masses are happy and rich don't leave. Its a fine balance that is unique for each nation and changes over time. I don't have simple easy recipe for this, nobody has. But seeing a lot how rich actually think and behave, simple knee-jerk reactions almost never achieve intended effects down the line, state fights uphill battle with often smarter and better equipped folks. |
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Where was I talking about taxes for the rich?
>Thats why Depardieu run off to Russia from France and its draconic system.
Yeah, I'm sure the average French working class citizen suffered a lot from loosing Dépardieu to Russia, let them play you the world's smallest violin for that tragic loss.
Pretty sure the French citizen cares way more about retaining and attracting the likes of Datadog, Airbus and Renault who actually create skilled well paying jobs, than a entitled fat cats like Dépardieu who don't create any jobs.