I argue that the increase in savings and therefore money spent participating in the economy is inherently valueable.
In addition companies are less likely to fail, and can continue to generate value. Individuals have a bigger safety net and can be more productive for society. You already touched on the fact that government has reduced burden for social services.
Government tax revenue can be poorly allocated and wasteful.
The accountants provide a valuable service navigating the complex tax laws. This allows me to outsource the work and spend more time being “productive” for society.
A great example is Tesla. They may not have survived without the billions in tax credits they received. Lots of people believe they generate tremendous value for society.
> I argue that the increase in savings and therefore money spent participating in the economy is inherently valueable.
> In addition companies are less likely to fail, and can continue to generate value. Individuals have a bigger safety net and can be more productive for society. You already touched on the fact that government has reduced burden for social services.
It's zero-sum though - you've increased individuals' savings but reduced public funds (which can be spent in the economy through e.g. public infrastructure, and/or used to provide a safety net, probably in a more efficient way since the risks are pooled).
> Government tax revenue can be poorly allocated and wasteful.
Sure. So can individual or corporate wealth. Even if you think the tax rate is too high, the most efficient solution would be to change the tax rate, not add a bunch of loopholes.
> The accountants provide a valuable service navigating the complex tax laws.
The argument is that that complexity is largely bullshit.
> A great example is Tesla. They may not have survived without the billions in tax credits they received. Lots of people believe they generate tremendous value for society.
Corporate tax avoidance means the government has less money from which to offer that kind of targeted tax credit.
I appreciate the discourse but I think we’re going in circles. On a slightly related point, you should check out CPG grey’s video “rules for rulers”. That video helped me understand why our tax codes are so complicated in the states.
My (unprofessional) opinion is that the messy tax structure is there by design, and not the result of incompetence or oversight.
I think there are plenty of far more “BS” jobs out there than book keepers. Companies wouldn’t be able to function without them.
I argue that the increase in savings and therefore money spent participating in the economy is inherently valueable.
In addition companies are less likely to fail, and can continue to generate value. Individuals have a bigger safety net and can be more productive for society. You already touched on the fact that government has reduced burden for social services.
Government tax revenue can be poorly allocated and wasteful.
The accountants provide a valuable service navigating the complex tax laws. This allows me to outsource the work and spend more time being “productive” for society.
A great example is Tesla. They may not have survived without the billions in tax credits they received. Lots of people believe they generate tremendous value for society.