Listening to a Libertarian on tax is like listening to cancer on chemotherapy…
The idea was that by taxing the wealth of the rich, the working poor could get a tax-break. It sounds wonderful, but you do not need a 37-page Treasury report to tell you that taxing wealth will have perverse economic impacts that will, in short order, mean that there will be fewer jobs available for the working poor.
The report is punchy. If a wealth tax was introduced, “expect some reduction in investment in entrepreneurship and innovation”; and on the risks of human flight, “there is a real risk that the number of people who leave is higher than estimated, resulting in less revenue collected from the wealth tax than we have forecast and larger economic costs”.
..I’ll see your Damien Grant and raise you a Max Harris…
The denial of how rigged the system is for the rich is because the rich see you won’t take it anymore. Hilariously Damien claims the following…
It does not matter that, as the Treasury report makes clear, a wealth tax will erode the tax base, impose negative impacts on social cohesion, have a very high compliance cost, and drive the wealthy and innovative offshore.
…oh really? You don’t think the social cohesion will fall over because the poor won’t put up with the rich extending their privilege?
This claim the rich will flee is bullshit – WHERE THE FUCK WILL THEY FLEE TO?
On a burning planet – where will they flee to?
The hilarity is that the climate change the right have denied for decades reshapes everything.
Tax. The. Rich.
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