Why The Economist hates wealth taxes.
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Top Comments (10)
They want an inheritance tax because they only need to dodge it once, vs a wealth tax that they need to dodge every year
The pandemic showed us that billionaires are not essential workers.
Inheritance tax gives 30 extra years to use loopholes to avoid the tax. That's how they are different from wealth taxes.
What deters innovation is not being able to afford to innovate.
To counter the 'productivity' argument, maybe we should call it a Hoarding Tax - pretty hard to claim hoarding is productivity
"Seizing the assets of society's most productive people is a road to economic ruin". What a beautifully phrased argument *in favour* of wealth taxes... The most productive people in our society are not those increasing their wealth by acquiring a greater and greater proportion of assets every year. The most productive people in our society are those who work tirelessly for 60%+ of their lives to keep the wheels of our civilisation turning. By taxing the latter and not the former, we continue down the road to economic ruin.
They earn millions in Passive income every year, but taxing this would deter innovation? 😅
Vladimir Lenin referred to The Economist as "a journal that speaks for British millionaires." He wasn't wrong
“Seizing the assets of the most productive people”. What a line.
Oh my lord, THANK YOU for making a video on this specific Economist issue. I'm subscribed for their international coverage but I was so outraged by their leading article saying the issue is young people being so selfish nowadays demanding affordable housing and groceries, what the hell?? Their argumentation on wealth taxation is so shallow, unengaged and disingenuous it's disgraceful.
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Top Comments (10)
They want an inheritance tax because they only need to dodge it once, vs a wealth tax that they need to dodge every year
The pandemic showed us that billionaires are not essential workers.
Inheritance tax gives 30 extra years to use loopholes to avoid the tax. That's how they are different from wealth taxes.
What deters innovation is not being able to afford to innovate.
To counter the 'productivity' argument, maybe we should call it a Hoarding Tax - pretty hard to claim hoarding is productivity
"Seizing the assets of society's most productive people is a road to economic ruin". What a beautifully phrased argument *in favour* of wealth taxes... The most productive people in our society are not those increasing their wealth by acquiring a greater and greater proportion of assets every year. The most productive people in our society are those who work tirelessly for 60%+ of their lives to keep the wheels of our civilisation turning. By taxing the latter and not the former, we continue down the road to economic ruin.
They earn millions in Passive income every year, but taxing this would deter innovation? 😅
Vladimir Lenin referred to The Economist as "a journal that speaks for British millionaires." He wasn't wrong
“Seizing the assets of the most productive people”. What a line.
Oh my lord, THANK YOU for making a video on this specific Economist issue. I'm subscribed for their international coverage but I was so outraged by their leading article saying the issue is young people being so selfish nowadays demanding affordable housing and groceries, what the hell?? Their argumentation on wealth taxation is so shallow, unengaged and disingenuous it's disgraceful.