Message from @Neco2040
Discord ID: 535198800885841920
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
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
higher revenues
thats really hard to do
and more money for the individual
like take bezos for example
it's idealist
he makes 80k a year
80k?
even though his real income was billions
Yes