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Layman's Economics · 69w
One of the things that hinder a country’s economic growth is the idea of progressive tax rates. Many people who support this idea believe this to be a way of taking the rich’s money to help the p...
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Princedede @Princedede
I totally agree with you.. but thng is, most countries practicing it are doing just fine.. for example the US, Sweden, south korea, etc. why i agree with you. I still feel maybe it's better but with less increment. So probably if implemented in a way that won't be too taxing for the rich.
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Layman's Economics · 68w
In practice, the rich have the resources to lobby politicians so there will be some 'loophole' in the tax code. They can also hire accountants to exploit said 'loophole'. That way, they won't even have to pay taxes at such a progressive rate in the first place! So, the idea of progressive tax rate...