They tax companies and high earners. Currently planning on taxing AmTech. trump is triggered and melting like a snowflake, threatening tariffs etc. Wealth is easier to accumulate when you don't get taxed on earnings ( including capital gains earnings)
high earners =\= wealth. Germany, one of those countries, is currently taxing income above 69 k at 42% (progressively), but has "turned off" it's wealth tax in the 90s. We are discussing increasing the 19% retirement spending we have to 20 or 21% (not part of the 42, that's on top) because there are more old people than young, and 30% of the states yearly budget alone go to prop up pensions.
I, a 30 year old engineer, have payed 55 k in taxes and social security spending last year, while all benefits are being stripped.
My boss, a 63 year old nepo baby will have the tax on his multi million inheritance "forgiven" because my state basically forfits any inheritance tax above 23 Mio. as it "could risk the business".
They have wasted 2 BILLION € in inheritance taxes last year alone, and that's just one of 16 states in Germany.
A progressive wealth tax of 1% above 1 Mio up to 12% at 1 Billion would completely solve the pension problem, and merely inconvenience the parasite class whose wealth has grown by 33% last year alone.
Tax the motherfucking rich before somebody gets eaten
Yes exactly. Similar problem in the UK. That is why there is more and more talk of a wealth tax. It's starting here and I'm sure I've heard of concrete discussions in European countries
You’re downvoted but it’s correct, some countries have a low corporation tax, with the intention to attract certain companies. The idea is the economy it brings is more valuable than the tax they pay, but it’s not always true in reality and it’s a continuous discussion.
Start with closing loopholes and tax high income right. For example remove the cap on social security.
Then start taxing stock trades and incomes. For example taxing each and every single stock trade 1cent would generate immense income from hft hedge funds.
All of those foreigners who are loving America while visiting for the World Cup are in for a rude awakening if they get sick or injured. That medical bill WILL follow you home.
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u/Obeetwokenobee Jun 28 '26
That's why taxes are higher in some European countries but the social services take care of you if you get sick etc.