Comments by "Persona" (@ArawnOfAnnwn) on "The Plan That Nearly Collapsed the UK - VisualEconomik EN" video.

The really irritating thing about the Laffer effect is that business taxes are taxes on the rich, while consumption taxes generally fall hardest on the poor. So the Laffer phenomenon provides a justification (a sound one imo) for taxing the rich less and the poor more. While that may hold economically, it's a bitter pill to swallow for anyone who cares about fairness and justice.
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@guydreamr While true, those latter taxes don't usually tend to generate much income and so govts. don't rely on them much. They're also more mobile and circumvented - a big reason the Laffer effect exists is cos the rich can more easily move elsewhere to do their thing, whereas the proles are stuck. Or even just move their wealth elsewhere.
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The really irritating thing about the Laffer effect is that business taxes are taxes on the rich, while consumption taxes generally fall hardest on the poor. So the Laffer phenomenon provides a justification (a sound one imo) for taxing the rich less and the poor more. While that may hold economically, it's a bitter pill to swallow for anyone who cares about fairness and justice.
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@thenoodlebuddy South Korea has inheritance taxes. It led to absurd results like the Samsung head being 'undead' for years (look it up). They're a lot trickier to implement than you may think. A lot. Cos most wealth isn't in the form of cash.
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