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Comment by oifjsidjf | Hacker News Reader

>>Some politicians are, as you know, blaming the wealthy people moving.

These politicians truly are the stupidest form of humans alive.

>> “The model in Norway is that everyone should contribute relevant to ability and therefore those that have a greater ability to pay taxes, should pay a little more.”

Since taxes are based on % rich already paid more.

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Not just percentage but a progressive percentage. So they paid even a higher percentage already!

I could understand wealth taxes in a deflationary environment only. In an inflationary environment wealth taxes are an abomination.

Instituting them against only the ultra-wealthy is just “boiling the frog” as the income targets will only possibly go down over time.

you’ve got that the wrong way round. tax raises reduce inflation

Taxes increase inflation. You buy a steak at a restaurant. If they have to pay 50% extra for their employees in tax, and 50% extra for the meat then it will be more expensive for them to sell you the steak.

Tax raises reduce inflation because hoarding money increases inflation. These people don't spend their money, they borrow against their assets. Taxing that hoarded money beings it out of the dragons' dens and back into circulation

Modern Monetary Theory disagrees with you. Increasing taxes reduces spending & money supply, thus reducing inflation.

I don't take MMT serious. It has been wrong about almost everything. The theories are just theories without substance or evidence.

The detractors of MMT have been wrong far more consistently than it has been.

Which in effect leads to everyone wanting more money. So everything starts costing more. Thus inflation goes up.

Some day people who only ever took econ 101 and decided that they therefore understand completely how a complex set of interrelated systems work will realize that they're suffering from Dunning-Kruger effect, but apparently it won't be today.

Can only agree with you ;)

accusing others of the Dunning-Kruger effect is rarely a sign of a healthy mind

Is accusing others of having mental health problems less so, I wonder?

I suspect that implying someone is unhealthy is less unhealthy than implying someone is stupid

Capital gains is taxed at a lower % than salary. I work as a contractor to be able to save on taxes, while my co-workers doing the same work are taxed at around 50% total. I'm not sure what the solution is, but while the working and middle classes are taxed to death the rich have all kinds of loop-holes giving them an unfair advantage when they already own everything.

A good start would be to tax all income at the same rate. Raise it for capital and lower for salary to meet in the middle. This would mean I pay more yes, but I'm not a hypocrite and actually want to see a better system.

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