Post #965969

2026-04-06 02:41 UTC

Every time someone suggest taxing the rich the same two weak arguments are put forward: 1) If you tax the rich, the rich will simply leave. This is the first argument always put forward and it&#39;s the weakest one because the wealth of the rich is linked to where they live; if their ability to maintain those sources of wealth then their ability to leave is curtailed unless they want to abandon their sources of wealth. 2) If you raise taxes on the rich they will stop investing in your city/province(or state)/country. This argument is based on a truth (the rich will stop investing in the specified area) but it is also relies on the falsehood that all investment must originate from private sources. The rich don&#39;t like to put up their own money when investing, they use their status to arrange loans that they then use for investments (and declare bankruptcy if the investment fails). Governments have a greater ability to borrow funds and thus can replace the rich as the primary economic investors. #TaxTheRich

Replies (1)

@SnowyCA@social.vivaldi.net 2026-04-06 03:08

@RantingCanuck I did not study economics so the following might be nonsensical thinking.... I'm just thinking out loud here....tossing out thoughts In the past, the one thing that motivated governments to tax the rich was when there was what's called a mass mobilization, as examples, before the last 2 world wars when countries introduced forced conscription and had to pay the military. Trump has the world arming up and preparing for another world war. The US is going to have to pay for the illegal Iranian attack entirely on their own., no one is helping Trump is planning to increase the military budget at the expense of the poorest Americans, chopping medicare,, daycare, education etc.... How long until there is nothing to take from poor Americans? Where will he turn to next to fund his warmongering? Shifting to Canada : Carney is dedicating increased funds to add and upgrade our military "hardware". He wants to expand our armed forces personnel. He is ignoring social programs/portfolios that desperately need additional finances. We have a small population, so where will he have to go to raise the money to reach his goal? Will both leaders be forced to require the wealthiest to pay up?

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