The argument that there won't be incentives for success is and has always been ludicrous. It's not based in any kind of empirical reality, just on an emotional theory that people won't work if you tax them more, and an Ayn Rand novel or two.
The reality is that people compete for status, success, money, and power, within the framework they are given.
I mean we've actually tried this. If you take a group of incredibly skilled business people and tax them heavily you don't get some dystopia, you get Switzerland.
True, but also the Swiss have a direct tax on corporate capital, a VAT, a policy of taxing capital gains as regular old income for professional investors, plus many other subtleties and differences that don't fit on a bumper sticker. I think my point stands.
I mean we've actually tried this. If you take a group of incredibly skilled business people and tax them heavily you don't get some dystopia, you get Switzerland.
And what important/useful companies, tech or otherwise, got their start in Switzerland?
The reality is that people compete for status, success, money, and power, within the framework they are given.
I mean we've actually tried this. If you take a group of incredibly skilled business people and tax them heavily you don't get some dystopia, you get Switzerland.