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Originally Posted by bahbahmickey
I fail to see how lowering a reward increases peoples efforts to get such reward no matter if they are rich or poor.
Well the simplest example is the propensity of workers to, at a certain level of increasing compensation, work less. This is just an empirical observation of human behavior. Are you just pretending not to understand because you are running out of better places to hide?
Say I am a wealthy business owner, a "job creator" in the parlance of the derposphere. My goal is to make millions. Once I make them, I want to diversify into lower risk instruments, naturally. So maybe high taxes on the wealthy could incentivize them to make up the lost tax obligation with more aggressive, higher risk investment.
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What is the plan when rich people/ companies continue to move to other countries w/ lower taxes? (I don't expect you to have an answer as obama didn't either.)
I actually do have an answer. Generally speaking, anything the state does to enhance the growth of an industry can be used as a stick. Government investment is what creates the innovation fueling the tech sector. What you see as cool new products put out by tech companies are actually little more than branding and packaging of technology development with taxpayer money, usually through the pentagon. I figure we can use patent control to place some constraints on tech companies by placing conditions on the proliferation of the tech we the people have developed, such as having a certain percentage of their workers be U.S. citizens working in the U.S. They can still rich but they will have to pay U.S. workers a decent salary in return for being allowed to capitalize on taxpayer investments. The owners won't get as rich, but who the **** cares about that???