Singh proposes corporate tax hike tied to CEO-worker pay gap

Re:Singh proposes corporate tax hike tied to CEO-worker pay gap by gruez on Saturday May 13, 2023 @01:43PM (#35930738)

>Clearly, this theory that taxes disincentive productivity does not comport with decades of empirical evidence. Literally nobody who values money says, "I could make 1 billion dollars but since I'll only get $450 million after taxes I'm just going to sit on this beach and do nothing instead."

1. Income tax applies to everyone, not just billionaire startup founders. Doctors might be well paid, but I'm very skeptical that they'll be equally willing to work more hours if their marginal returns from working was halved by taxes.

2. going back to the claim that "taxes [...] aren’t first-order about generating revenue, they’re first-order about creating incentives", what are income taxes supposed to incentivize then?

[ Parent | on HN ]

Re:Singh proposes corporate tax hike tied to CEO-worker pay gap by gamblor956 on Saturday May 13, 2023 @02:45PM (#35931385)

As a tax lawyer, my clients are the people who would be most affected by high taxes. Literally none of my hundreds of clients has ever turned down making more money just because a little more of it will be taxed.

And shockingly, despite the "high" tax rates of CA and NY, almost of my clients prefer to live in these high-tax jurisdictions over low tax jurisdictions like FL where they would keep more of their money. Some of them even choose to live in the EU, where even more of their money goes to taxes.

[ Parent | on HN ]