Quote:
Originally Posted by The Yen Man
Ok, but how do you propose this get solved? Because disproportionally taxing the rich more than they already are paying isn't the solution. Unless you get the whole world and their governments to buy in, you'll inevitably get people leaving for countries with lower taxes.
Are you saying if you were making $10M a year in Canada, you'd voluntarily give up 80% of it for the better of Canadian society, and not move to another first world country that lets you keep more of your money? I somehow doubt that. If I were making $10M a year, you bet I'd be looking at all my alternatives to legally lower my tax burden as much as possible. Why is that wrong?
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I dont have an answer, because it hinges on people knowing what "enough" is and to abandon the idea of unlimited convenience that wealth provides which drives people to acquire it at all costs
For example, to answer your hypothetical question: yes I would voluntarily give it up.if I was making 2 million dollars a year after taxes that's a 1900% increase over our current household income that we dont even spend 50% of. I understand most people are not like this but my life wouldn't significantly change if I had that much money other than I would be retired today instead of in under a decade