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A conservative billionaire had some things to say (lemmy.world)

submitted 4 months ago by trek32 to c/politicalmemes

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[–] [email protected] 0 points 4 months ago (1 children)

Are you arguing that people in a higher tax bracket shouldn't pay a higher tax?

[–] damnedfurry 1 points 4 months ago

I'm not arguing anything. I'm pointing out the fact that wealth taxes demonstrably don't work--they cause an overall loss in tax revenue. That's why all those countries have either repealed their wealth taxes, or changed them so that they're no different than 'normal' taxes, and become primarily the burden of the middle class, not the wealthy.

https://taxfoundation.org/research/all/eu/wealth-tax-impact/