Comment Re:EU will not Deregulate To Accomplish This (Score 2) 140
"Billionaires in the US only invest there because they pay next to no income tax. The consequence of that is that the middle class gradually disappears"
Yes, billionaires pay little to no income tax (or more accurately: capital gains tax or tax on dividend). Yes, the middle class is gradually disappearing. But no, one is not a consequence of the other. Taxing billionaires on realized gains is not going to bring in enough revenue to save the middle class. The middle class is not being squeezed out by taxes, but by corporations / private equity increasing prices on basic necessities. It's an odd application of the old communist tenet "from each according to their ability". If you are in the income group that can afford to pay €2 for a €1 item, they'll try and charge you €2 if they can get away with it. And if they can corner the market on a scarce item (or create that scarcity), they'll charge you even more.
Yes, billionaires pay little to no income tax (or more accurately: capital gains tax or tax on dividend). Yes, the middle class is gradually disappearing. But no, one is not a consequence of the other. Taxing billionaires on realized gains is not going to bring in enough revenue to save the middle class. The middle class is not being squeezed out by taxes, but by corporations / private equity increasing prices on basic necessities. It's an odd application of the old communist tenet "from each according to their ability". If you are in the income group that can afford to pay €2 for a €1 item, they'll try and charge you €2 if they can get away with it. And if they can corner the market on a scarce item (or create that scarcity), they'll charge you even more.