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California is chasing wealth that has feet

293 points · 870 comments · idbnstra

  1. cuzezzzbbfofai · · focus · HN ↗
    I hope we agree that we need more taxes, it doesn't matter if they are taxes on billionaires, taxes on property, taxes on sales, taxes on crypto, or taxes on the poor. Without taxes we can't have a civilized society.
    1. opinion-is-bad · · focus · HN ↗
      The ratio of the economy that gets collected as taxes has only gone up over time. Do you have an idea for how much should be collected as some ideal ratio? At what point do the effects of taxation become counterproductive?
      1. sunshowers · · focus · HN ↗
        Well, the general economic consensus is that for income taxes, the revenue-maximizing peak of the Laffer curve is around 65-70% [1]. Revenue maximization isn't necessarily the right primary goal, though.

        [1] <a href="https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Laffer_curve#Income_tax_rate_at_which_revenue_is_maximized" rel="nofollow">https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Laffer_curve#Income_tax_rate_a...

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