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Those countries on those diagrams can afford a different tax progression as their economies are different from the American one to begin with.
Why is that? I posit such is true because their tax systems are FAR more equitable than our tax system in the U.S. which largely depends on only higher income earners and therefore our tax revenue absolutely DEPENDS on creating winners at the expense of losers.
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What might help is reducing taxes for small and medium-sized companies (not big corporations of course) so they can keep more of their earnings and as a consequence pay higher salaries and hire more people.
You're getting there, but remember that corporation stocks are held by A LOT of union pension funds and 401k investors, so disproportionately taxing those corporate profits ALSO reduces the income of retired union members and Joe Public retirees.
If they can afford it, could we? Might it be cheaper than the current system?
Yes, they can afford it
Yes, we can too
The question of whether it works or not -- i really have no idea. I think it's an interesting concept, but i don't have a strong opinion about its efficacy. I'd like to see someone give it a shot.
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Originally Posted by Redraven
From where will the Government get the money?
From the Federal Reserve.
It's no different than a bank who wants to make a loan. The federal reserve creates that money out of thin air to meet loan demand.
If you were guaranteed an income whether you worked or not... why would you work?
to have an income above and beyond the guaranteed income.
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And, how many others do you think would just go on the dole?
well it depends on how much money gov't is distributing to people.
this is really more of a future question than anything else, since we are inching slowly towards a post-scarcity world. Given the gains in economic productivity, this would've been absurd 200 years ago, but perhaps 200 years in the future it will make perfect sense.
Why is that? I posit such is true because their tax systems are FAR more equitable than our tax system in the U.S. which largely depends on only higher income earners and therefore our tax revenue absolutely DEPENDS on creating winners at the expense of losers.
You're getting there, but remember that corporation stocks are held by A LOT of union pension funds and 401k investors, so disproportionately taxing those corporate profits ALSO reduces the income of retired union members and Joe Public retirees.
I assume the reasons are manifold. Unions (in a good sense, they don't have a bad reputation over here) are much stronger in Europe, so the exploitation of less skilled workers is kind of impossible, thus far fewer working poor. The spectrum of salaries within companies tends to be narrower as well, although Switzerland is not exactly the best European country in that respect.
Same goes for education, there is simply much more egalitarian spirit in every aspect of society and life, whereas the US is more like a fierce jungle.
Yes, that is why I prefer the public pension system. Basically it only depends on the country not going broke
I assume the reasons are manifold. Unions (in a good sense, they don't have a bad reputation over here) are much stronger in Europe, so the exploitation of less skilled workers is kind of impossible, thus far fewer working poor. The spectrum of salaries within companies tends to be narrower as well, although Switzerland is not exactly the best European country in that respect.
Same goes for education, there is simply much more egalitarian spirit in every aspect of society and life, whereas the US is more like a fierce jungle.
All a result of an egalitarian tax system. Everyone has a stake, not just higher income earners.
to have an income above and beyond the guaranteed income.
well it depends on how much money gov't is distributing to people.
this is really more of a future question than anything else, since we are inching slowly towards a post-scarcity world. Given the gains in economic productivity, this would've been absurd 200 years ago, but perhaps 200 years in the future it will make perfect sense.
The Krell eventually eliminated the need for physical form.
No, it depends on corporations not going broke. Take CalPERS as an example: CalPERS Asset Allocation
Hit up corporations for extra taxes, and CalPERS is screwed.
I never lived in Switzerland, but in Germany you only choose the school type depending on your kid's intellectual capabilities. Other than that, the differences are small, and there is no tuition to pay. Just like with universities, so everyone can study if they got the brains and motivation.
With a public pension system the availability depends on the country's economy as it is paid for by employees' contributions. The money is not invested in dubious companies, much too risky...
I never lived in Switzerland, but in Germany you only choose the school type depending on your kid's intellectual capabilities.
We can't do that in the U.S. Therefore, many highly capable children are stuck in abysmal public schools, sentenced there by nothing more than a Democrat stronghold on insisting on trapping kids in those schools by residential boundaries.
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With a public pension system the availability depends on the country's economy as it is paid for by employees' contributions.
Only true if it's a defined contribution plan. For defined benefit plans, supplemental funding is required. For example, here in Illinois, taxpayers have 7 or more different taxing bodies charging an extra tax just to fund public employees' defined benefit pension plans.
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