Economist Gary Steven explains why the wealthiest individuals in a country can be taxed at a higher rate, regardless of whether they choose to stay or leave
by fungussa
Economist Gary Steven explains why the wealthiest individuals in a country can be taxed at a higher rate, regardless of whether they choose to stay or leave
by fungussa
3 comments
The History of taxation shows that taxes which are inherently excessive are not paid. The high rates inevitably put pressure upon the taxpayer to withdraw his capital from productive business and invest it in tax-exempt securities or to find other lawful methods of avoiding the realization of taxable income. The result is that the sources of taxation are drying up; wealth is failing to provide revenue to the Government nor profit to the people.
The HOW is the important part.
France just did this a while back and reversed course quickly.