Taxes

[Bengalzona]

(03-22-2019, 07:47 PM)TheLeonardLeap Wrote: If your question is merely a "could" rather than a "should", then my answer is: Yes. At least at first.

I am assuming you mean 70% with no loopholes or ways to reduce it? Because if we are talking 70% and people using all the offshore/tax haven/loophole/etc, probably not because they will find a way to reduce it a ton (as they did in the past when there was a huge tax rate, nobody actually paid at that rate). 

If you closed off all loopholes and such and it was a straight 70%, it would probably stop working because people would get tired of working for $1m and only coming home with $300k. Or earning $250k and only actually getting $75k. 

Meanwhile a house earning $75k get to go home with $75k.

People would get tired of that real quick And I don't think it would be sustainable.

(03-22-2019, 08:41 PM)Belsnickel Wrote: Doubtful. It would not be a sustainable system in my opinion.

What do you think, 2 years? 4 years? Theoretically, of course.