That only works for so long, because the system isn’t stable that way. Capitalism requires some sort of exploitation. If that exploitation is hindered for too long, capitalism will become in crisis.
Also: if you tax the rich too much, they will conduct a capital strike, where they stdpinvesting in the country, or move their business somewhere else. That bit isn’t just a bogeyman from conservatives. It has some merit. Social democracy just isn’t a stable system.
We dropped the unions and taxation of the rich. No reason that could not have continued. No reason we can’t do it again.
That only works for so long, because the system isn’t stable that way. Capitalism requires some sort of exploitation. If that exploitation is hindered for too long, capitalism will become in crisis.
This chapter explains why that deal didn’t continue in Europe
Also: if you tax the rich too much, they will conduct a capital strike, where they stdpinvesting in the country, or move their business somewhere else. That bit isn’t just a bogeyman from conservatives. It has some merit. Social democracy just isn’t a stable system.