lol i was just asking for a reason out of curiosity

ye ik

after game i shall indulge

```It had no positive impacts and will just deter foreign investment
And wealth will leave the country due to tax avoidance schemes
no point of it then```

yes

Of course

theres nothing tax rates do

when they;re increased

Apart from slow things down

and steal

The positive impact is that it will reduce the deficit massively along with allowing us to invest in programs that help Americans

No they won't

increasing tax rates don't increase revenue all the time

As long as it remains competitive with other countries, you don't have to worry about them moving to other countries

infact it can cause revenue to decrease

But they don't remain competitive, nobody has a 70% tax rate

Yeah, if it's like a 95% effective rate

no

it's why this exists

If the effective rate is similar to other developed country, you don't have to worry about a loss in revenue

so you want a 70% tax rate even though you'll tax the rich less

logic

?

So why exactly do we want a 70% tax rate

nice number

Maximize the money people and companies have and minimize how much the federal government has

🗿

if it 1. Doesn't actually tax that high
2. Taxes the rich lower
3. Deters the foreign investment due to face value
4. Decreases revenue

I honestly don't feel like arguing with someone who is arguing in bad faith

How is it bad faith

^

I already told you I don't want a 70% tax rate

Then how high

Probably closer to 45%

Why?

You do realise thats above the EU average

Because I am fiscally responsible

the US is below the Eu average by 2 points

@hcaez I was talking about removing loop holes for rich people to use and get through taxes and making to tax rates flat for everyone

Not really, reducing tax rates spurs economic growth