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how is less budget supposed to make bureaucracy faster
(lemmy.blahaj.zone)
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this post was submitted on 29 Mar 2025
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Less popular opinion. If we drive taxes up on the rich they’ll just get more creative with tax avoidance or move to Panama.
The ultra wealthy don’t pay income taxes and they didn’t in 1950 either. They’re mostly paying capital gains which was lower back then then it is now.
What we really need to do is remove all the massive loopholes in the current tax code and maybe do something like having progressive tax brackets on capital gains (some people are legitimately just using capital gains as retirement income).
Also, fund the IRS more. They’re not the evil tax man. They are finding the people who aren’t paying their legal fair share.
What's so bad about the ultra wealthy moving out?
Genuine question.
sarcasm: that's why all countries in europe who do tax their rich have zero billionairs, they all fled to the us where you can't even study abroad without being detained and tortured
European countries have scaled back taxes on the rich because they started fleeing. That’s exactly what I’m referencing. NPR article