Current Events > Not sure if raising taxes will better things this time around

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Companies, rich people have grown accustomed to low taxes and will look for any loopholes to cheat on them. The world is much more globalized and some will just move businesses away at a faster rate. A lot of new hiring from my company has been in Philippines and their other global hubs include Ireland, India, Colombia...countries that entice businesses with low to 0 taxes and actually have a pool of highly educated people if not more educated than the average American and I can tell you those 20 something Filipinos are more productive than some co workers.

Individuals can and are also doing the same thing already. Especially now that covid has accelerated and normalized WFH, you have seen a lot of people moving away from the cities to cheaper places. Except the very rich run away to escape taxes. California is losing thousands of millionaires and companies to other states. Then you have Paul Logan straight out saying he's coming to live to PR due to being a Tax Haven and many more influencers are following. Others are just straight out leaving the country. Im seeing a popularity for videos in YT on how American can become richer on other countries due to tax incentives.

I'm not saying we shouldn't raise taxes on the rich which is very much needed, specially those at the 1%...but maybe we cannot play the game the same way we've done if the rules have changed so much and that's what I think Democrats will do. I dont know if I'm right...just stating the trends Ive seen.

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taxation is theft

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CE has no moneys they love taxes

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So close the loopholes. Stop allowing them to game the system. Trickle down doesnt work and never will work. Rich corporations making more money wont incentivize then to make more jobs. Itll just incentivize them to buy more yachts. The problem is clear as hell but Republicans shill for them (and I mean the middle class voters, not even talking about the politicians)

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FL81 posted...

taxation is theft

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Money is always better in the hands of the people than the government.

Raising taxes helps no one.

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AtelierRyza3462 posted...

Money is always better in the hands of the people than the government.

Raising taxes helps no one.

also this

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Wouldn't want to upset the wealthy now would we

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https://moores.samaltman.com/

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VipaGTS posted...

So close the loopholes. Stop allowing them to game the system. Trickle down doesnt work and never will work. Rich corporations making more money wont incentivize then to make more jobs. Itll just incentivize them to buy more yachts. The problem is clear as hell but Republicans shill for them (and I mean the middle class voters, not even talking about the politicians)

You're right, losing loopholes should be the priority, but what are the chances of it happening? Even with democrats.

And those saying taxation is theft..taxation is how you're able to live in a civilized society and not having a huge wealth gap.

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