this post was submitted on 19 Mar 2025
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I am not opposed to inreasing taxes necessarily, but people need to understand that the income of wealthy individuals is not used purely for the fulfilment of their needs and wishes. Rich people play a rather important role in allocating and managing resourses(capital) in society, and increasing the taxes will decrease the capability of rich people to invest, which is not ideal.
Also, if the tax increase is percieved to be unfair, rich people can just leave and go to Monaco or Switzerland or any other "rich friendly" country. They are pretty much free to do so and they do it all the time. So increasing taxes will not necessarily lead to more tax revenue if they are increased above what is reasonable.
I am so happy karma is not a thing here btw. I would be in an unenviable position otherwise.
If they were competent at allocating resources, then the 2008 Financial Crisis never would have happened. They're just the ones in charge, with no better information than anyone else. So we might as well just vote on how to spend the taxes.
An easy way to prevent capital flight is to increase Land Value Taxes.
What makes your position unenviable is not its score.
They are competent at allocating resources according to market tendencies, which, if the economy is mismanaged by the government, can cause damage lick the 2008 financial crisis. Crises are a well known trait of market economies, and successful government intervention should prevent them, as it has for quite a while.
Information that is provided by the market to capitalists and is expressed in price is exclusive to market actors. Price shows what should be invested in, what should be bought, built, etc. What is needed, to summarise. This is impossible under the command economy, and this is why since the economy is very complex it csn't be effectively managed by the government.
So they'll be competent once a thing that can't be done... gets done? When/where do you think the wealthy did do a good job of managing society's resources?
What year is this comment from? 2008? 2020? Right now?
Sorry bro but you're stuck in the 2000s and coping hard. You immediately went from "they manage resources effectively" to "well um the govt messed up those resources, but not the stuff that went well, and I'm just talking about prices anyways".