Message from @NobleBeing
Discord ID: 682999712944488497
Here's the problem of you keep taxes high on the rich they will leave with their businesses
That's why I think audits would be safer and more economic
High taxes is the reason why businesses left for China and Mexico
And if you keep taxing the rich they will just keep their money offshore
Then audit them
This is what a wealth tax lets you do
And no, high taxes are not why companies left for China and Mexico
Most of the companies people think relocated to Mexico (auto manufacturing) actually relocated to the American Southwest
And the ones that did relocate did so for labor costs
Those companies are still based in the US, most in Delaware.
Taxes before the tax cut before Trump cut them for businesses were over 30% and in China was 15% some rich people were even buying more
That’s not an accurate effective tax rate
And taxes were higher in the 70’s when these fortune 100’s experienced exponential growth
Like Microsoft
Plus Medicare is expensive but in China and Mexico where the law doesn't require you to have it is cheaper to employ people there then here
So you’ve shifted your argument from taxes to labor costs?
They are one in the same
Canada has universal healthcare, didn’t you just say companies relocate to Canada?
Ok, so if the government gave everyone healthcare, that would be a huge savings for corporations right?
No because now you just increase taxes to the average person
Oh, so corporations don’t relocate to canada?
Because Canada has too many red tape and regulations to get anything done plus you get taxed heavily
That's why people come here because there is more freedom economic wise
Mhm, what industries do you think relocate?
Yeah except that higher corporate taxes increase investment
For obvious reasons
I would stay in America or Russia
Lol
Russia’s economy is terrible
What industries relocate?
O sorry I read that wrong I thought you were asking me
China had iPhone moved over there and gm I think also moved to china
That’s not accurate
Gm is think is moving back
Apple is in Cali, GM is in Detroit
Sorry apple not iphone
Check your facts
Yeah, also not true
The Apple HQ might be in cali
But the factories are in china