[ezst]

Let them start somewhere. Inequality has only accelerated in the past decades, undoing the fabric of the fair and democratic society which many/most people perceive as a condition for long-term stability. If taxing wealth isn't it, then what else do you propose? We seem to agree that taxing income stinks while news like "50 richest families own 50% of the country" abound. Those didn't get there by working a job or being clever/lucky about betting their pension money on some ETF. Only extraordinary measures will make a dent on this extraordinary accumulation.

[mnky9800n]

I pay a progressive 47% in Norway. I am sick of having half my salary taken over ~600kkr (60k usd). It’s ridiculous. Plus 25% VAT on everything. And it’s not like salaries are through the roof. Why bother paying me a salary at all at this point? Just let the state give me everything if they are going to take it anyways.

[spwa4]

Well currently about 3 working people are paying 1 pension. So that's where 33% of your taxes are going to. By 2050 that will be about 1.8. So that 33% will have to become 55% JUST to maintain current state expenditures. And it will keep dropping.

Which would make your 47% tax a 70% tax (minimum) in the current funding model. And that's assuming no rise in unemployment or anything like that.

That's actually pretty good compared to northwest Europe. I mean Norway has about 1500 euro per person per month in "free" taxes (from oil sales), which will also disappear, probably sooner than 2050. So add that, I guess.

Looking at those numbers, of course, one can easily see that the current financial structure of states will just not support that level of state expenditure (and it's a labor problem, not a money problem). So that is not what will happen because it simply can't.