what would happen if governments made billionaires actually pay the appropriate amount of tax based on their income?
In: Economics
Income and wealth are two different things. Taxation of wealth vs income varies around the world. I think generally income is taxed „heavier“ (it is not quite clear to me how to meaningfully and quantitatively compare income vs wealth tax).
Some people think that the rich may just move their „tax location“ to another country. This is a common argument for politicians who are in favor of low taxes for the wealthy. Rich people usually have homes all over the world. Notably it is not entirely trivial to determine (and check/enforce) where someone needs to pay taxes. Again this will vary by country
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