I agree we need to tax the rich more. But where do think that money sits? It’s not in a checking account. It’s in shares of companies and other investments. If the rich are forced to pay billions in tax, they have to pull money out of those things and that causes real operational reductions - ie layoffs and less productivity- and that means less product available to consumers - and so prices rise. It’s a complex interplay of issues and not really as simple as just ‘tax the rich’. Not saying we shouldn’t, but we have to do it carefully. Oil and gas subsidies are pretty short sighted, it seems, but why do you think it’s done? It’s to get international investment and productivity higher so people have jobs, we can buy things that we need from other countries and have produced resources for ourselves.
I agree we need to tax the rich more. But where do think that money sits? It’s not in a checking account. It’s in shares of companies and other investments. If the rich are forced to pay billions in tax, they have to pull money out of those things and that causes real operational reductions - ie layoffs and less productivity- and that means less product available to consumers - and so prices rise. It’s a complex interplay of issues and not really as simple as just ‘tax the rich’. Not saying we shouldn’t, but we have to do it carefully. Oil and gas subsidies are pretty short sighted, it seems, but why do you think it’s done? It’s to get international investment and productivity higher so people have jobs, we can buy things that we need from other countries and have produced resources for ourselves.