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Thu Feb 7, 2019, 12:13 PM

Wealth tax failures

(i.e., the future of the democratic party)

https://www.investors.com/politics/editorials/wealth-tax-failure/
Wealth Tax Fails The Test Around The World

Wealth Tax: There's little doubt that the political flavor of the day is what the left calls "democratic socialism." And one of this movement's more recent ideas, from Sen. Elizabeth Warren, is to impose a "wealth tax" on the wealthy. Sorry, senator, it's an old idea — one that's thoroughly discredited.

To begin with, the wealth tax is nothing new. It's been tried by many nations, but most who've tried it have dropped it. As recently as 1990, according to the Organization for Economic Cooperation and Development, 12 of its member countries imposed a wealth tax on citizens. Today, it's just four.

The irony is that those who ended their failed experiments with the wealth tax are those that America's "democratic socialists" say they most admire. That includes Denmark and Sweden, nations often cited by people like Warren, Sen. Bernie Sanders, and Rep. Alexandria Ocasio-Cortez as worthy of emulation by the American left.

Why did those countries drop wealth taxes? As The Tax Foundation noted, "Countries have dropped the taxes due to the challenges they pose." Among others, those challenges include wealthy people fleeing the country to avoid taxes, and declines in investment and jobs.

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Reply Wealth tax failures (Original post)
Jack Burton Feb 7 OP
quad489 Feb 7 #1
foia Feb 7 #2
rampartb Feb 7 #3

Response to Jack Burton (Original post)

Thu Feb 7, 2019, 12:15 PM

1. Yep, lefties are too stupid to understand that the wealthy can move............

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Response to quad489 (Reply #1)

Thu Feb 7, 2019, 12:43 PM

2. They're too ignorant to recognize that taxes influence behavior.

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Response to Jack Burton (Original post)

Thu Feb 7, 2019, 01:16 PM

3. i not omly understand that the wealthy can move,

but if they wish to avoif taxes so badly, i encourage them to do so. if their profuct or service was so valuable that americans can not live without it, a good taxpaying american will soon step in and provide it.

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