- Feb 15, 2022
Where do you live with an effective tax rate of 70%?So that's it eh? We pay like a real tax rate of 70% (after all taxes everywhere are factored in) or it's mad Max? Wow, maybe we should actually increase taxes!
I love it when "less taxes" or "smaller government", hell even "don't grow the government as fast" is equal to complete anarchy and murder on the streets.
If it's the United States, that simply isn't true. The country's wealthiest people aren't paying taxes anywhere remotely near that rate. Starting with the well known example of Peter Theil's oversized Roth IRA account. Anyone paying 70% is simply too lazy or ignorant to learn how to minimize taxes to an acceptable rate. You can trot out all those conspiracy stats totaling up the endless taxes, but realize they apply to W2 employees. Not business owners and investors. Not people who create wealth.
Yes, taxes have their place. They're used to provide all the benefits of living safely in a modern society. People bitch endlessly about "'paying too much" without considering what's received in return. Sanitation, clean water, agriculture not filled with toxins and bacteria, meat packing products that won't kill you, public libraries, museums, education, auto safety. None of which was true in 1900.
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.