A better solution is to tax capital gains and corporate income at a rate that is closer to personal income taxes so that everyone pays their fair share.
I think the US has enough tax money it just needs to use it more efficiently. If you look at the government revenue per capita of the US it isn't that far off from Germany or Japan. Construction in Japan certainly has a higher price floor than in the US so there is no excuse there, and the various government offices in Japan operate quickly and efficiently despite offering much lower pay and worse hours, in a much stricter work environment.
Basically, I think its a culture problem. You could give the US 10 trillion a year in Taxes rather than 3 but the dmv is still going to have a line, take 3 hours to get through and have a rude morbidly obese woman behind the counter.
People cannot live on $7.25 an hour in the US, and the government has a responsibility to promote the general welfare. Inflation skyrocketed in the past 5 years; minimum wage has not changed for 15 years. So, no correlation there.
The corporate tax rate should be increased, as well as taxes on high-earners, as well as the minimum wage. Capital gains taxes for individuals with 1M+ of assets may be considered, but is unprecedented in US tax history, no?
0cf8612b2e1e|1 year ago
throwadobe|1 year ago
A better solution is to tax capital gains and corporate income at a rate that is closer to personal income taxes so that everyone pays their fair share.
trosi|1 year ago
I'm not against higher corporate tax rates, but that's a separate problem.
wegfawefgawefg|1 year ago
Basically, I think its a culture problem. You could give the US 10 trillion a year in Taxes rather than 3 but the dmv is still going to have a line, take 3 hours to get through and have a rude morbidly obese woman behind the counter.
ilc|1 year ago
VAT is the real answer. If people had to pay consumption taxes, the issue would go away. You have to spend the money somewhere.
boston_clone|1 year ago
The corporate tax rate should be increased, as well as taxes on high-earners, as well as the minimum wage. Capital gains taxes for individuals with 1M+ of assets may be considered, but is unprecedented in US tax history, no?
bearjaws|1 year ago
> Still have massive inflation
jojobas|1 year ago
Sayrus|1 year ago
jondwillis|1 year ago
readthenotes1|1 year ago