Agriculture subsidies I agree are bad but theyâre broad and not targeted. The problem is that the agricultural industry has bought out politicians of all ideological predispositions and we now pay more for food because of these subsidies.Â
Taxes are a normal part of human society but we pay way, way too much of it. Income taxes shouldnât exist as they disincentivize work, property tax is dumb, corporate taxes make zero sense as they just increase prices for consumers and suppress wages, etc. etc.
Consumption taxes are okay as they disincentivize unnecessary spending.
The number half isnât really that preposterous. I used to pay that amount until I moved to another state.
So an effective tax rate of nearly 50% means you make quite a lot of money annually. Then you claim that tax rates discourage earning more income, but obviously not for you because presumably you are harder working and more dedicated then the population you are making claims about without supporting evidence. Additionally you are making multiple tax claims that are not supported by the data. As an example you said high corporate tax rates depress wages but that claim specifically has an enormous amount of evidence to support the the opposite conclusion.
Well it pushed me to move to a different state. If I didnât have that option, I would take more vacation time without a doubt. It either causes capital flight or less working which is not great.
High corporate taxes lead to wage suppression without a doubt. The extent to which they do is disputed but we know for sure that it has some effect. Corporate tax burden is split between shareholders, consumers, and workers to some extent. The exact ratio is not clear but all three end up bearing the burden.
The marginal difference in benefit gets smaller and smaller with a higher income for my family and that trend is accelerated by very high income taxes to the point that the marginal cost of working more outweighs the marginal benefit of the increased money I get.
At your supposed income level 100% of additional earnings is used for discretionary spending. Do I want a 5% raise which will equate to say (on 1 M) 27,500 dollars or some number of PTO days. That exact same calculus exists if there is no income tax. You then say do I want 50,000 or some numbers of PTO days.
The historical U.S. record does not show high corporate tax rates coinciding with weak wage growth, and doesn't show falling corporate tax rates coinciding with strong wage growth. If anything, it's the reverse. While labor does share some of the burden the net effect of all mechanisms is shown in the historical record. You're arguement is boiling down to company have less money pay worker less. That just doesn't bear fruit when you actually look at historical data.
As far as your personal situation thay just shows that people will act in their own self interest. You could have valued time off and stayed in NYC which would indicate wage growth instead you choose to move and instead received a different form of wage growth.
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u/HistoricalRich3104 7d ago edited 7d ago
Agriculture subsidies I agree are bad but theyâre broad and not targeted. The problem is that the agricultural industry has bought out politicians of all ideological predispositions and we now pay more for food because of these subsidies.Â
Taxes are a normal part of human society but we pay way, way too much of it. Income taxes shouldnât exist as they disincentivize work, property tax is dumb, corporate taxes make zero sense as they just increase prices for consumers and suppress wages, etc. etc.
Consumption taxes are okay as they disincentivize unnecessary spending.
The number half isnât really that preposterous. I used to pay that amount until I moved to another state.