Is there more up to date data that shows this explosion (that could easily be the case)?
Help a guy out would ya?
MTL_Dude666 on
Tax changes is rarely the solution because if you increase the tax rates, many ultra-rich people will move to somewhere else where taxes are lower (i e. the US).
Wealth inequality is not a simple problem with a single solution. One big problem I see is about the enforcement of everything (fiscal laws, environmental laws, etc ). Every time there’s a fine, it is NEVER proportional to the amount of damage done and in the end, society pays more than those who commits economic crimes so the poor becomes poorer and the rich becomes richer.
If the fines were proportional, and those fines could be redistributed to those affected, inequalities would be reduced.
If a corporation knows that it will be fined 500,000$ for breaching an environmental law while making 5 million in profits, what do you think they’ll do???
Any_Nail_637 on
The solution is to raise up the lower and middle classes. A good start would be to get rid of TFW program which helps suppress wages.
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I’m sure there will be comments in here raising the challenges of taxing wealth as an excuse to do nothing.
There are very real challenges to taxing wealth, but they should be evaluated against the cost of doing nothing.
I’m sure it will be another tax on doctors, lawyers and business owners that already pay 53% marginal tax.
People forget that any wealth they have has already had taxes paid on it (outside of registered accounts).
Forgive my ignorance, but what’s the evidence of our „exploding“ wealth inequality?
Last I checked and it’s been awhile, our GINI coefficient has remained relatively stable lately.
Am I completely wrong?
Like here are the stats: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1110013401
I’m not seeing any real „explosion“ in there.
Am I blind?
Is there more up to date data that shows this explosion (that could easily be the case)?
Help a guy out would ya?
Tax changes is rarely the solution because if you increase the tax rates, many ultra-rich people will move to somewhere else where taxes are lower (i e. the US).
Wealth inequality is not a simple problem with a single solution. One big problem I see is about the enforcement of everything (fiscal laws, environmental laws, etc ). Every time there’s a fine, it is NEVER proportional to the amount of damage done and in the end, society pays more than those who commits economic crimes so the poor becomes poorer and the rich becomes richer.
If the fines were proportional, and those fines could be redistributed to those affected, inequalities would be reduced.
If a corporation knows that it will be fined 500,000$ for breaching an environmental law while making 5 million in profits, what do you think they’ll do???
The solution is to raise up the lower and middle classes. A good start would be to get rid of TFW program which helps suppress wages.