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Economics Nobel Laureates' Letter Supporting the California Billionaire Tax [pdf]

33 points · 29 comments · marojejian

radialstub · 1789856874 · focus · HN ↗
The current tax system is fundamentally flawed, and this will achieve nothing.
The system is rigged against people who provide labour, when these people are the ones keeping the system going. Why can companies deduct taxes from operating expenses and investments, yet individuals are taxed on revenue? This means companies can build wealth much easier than individuals. Why is housing, food, education and savings not considered operating expenses?
1. kelseyfrog · 1789863936 · focus · HN ↗
  > The system is rigged against people who provide labour
  We live in a capitalist system, not a labourist system. If you're making money off labor, you're playing the wrong strategy, and why?
  In capitalism, the only winning move is to play capital. Typically, this means owning capital and finding a way to make it appreciate by way of paying people for their labor and using the difference in value to your advantage.

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