Comments by "" (@thehumanity0) on "Kyle On The Wealth Tax - Rising w/ Krystal u0026 Saagar" video.

@briandiaz5591 Except the VAT doesn't target the ultra-wealthy, it's regressive by definition and a form of a sales tax.
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@briandiaz5591 Also, just because some people will find a way to evade it doesn't mean we shouldn't do it. When we had a 91% top marginal tax rate under Republican president Eisenhower, the effective tax was still in the 40-45 percentile, that's still A LOT better than it is now though.
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Yang uses the tired argument of "capital flight" as a reason not to tax the wealthy, even though that's the case with any tax we've ever put on the wealthy such as Eisenhower's 91% top marginal tax rate. It's no coincidence that the only taxes Yang has proposed for funding his programs are regressive taxes: a carbon tax and a VAT tax, which is just a form of a sales tax. The carbon tax in particular is why France started yellow vest riots, because Macron's administration implemented a regressive tax on the people and no one was in favor of it. Yang's not proposed a progressive tax system, because he's not in favor of it and the fact that he's come out against a wealth tax, which has massive approval ratings, is just more evidence that that's the case.
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@PenneyThoughts Except VAT + UBI + forcing people to choose between UBI and benefits is regressive for countless poor people. Also, his carbon tax is separate from that and is not offset by any program. If yang really wanted to create a progressive economy, he would've funded his UBI with a capital gains tax, top marginal tax rate, re-implemented the estate tax, higher corporate tax rate, formally ending corporate welfare, or even a tax on Wall Street speculation, which Yang has mentioned before but not actually implemented it in any of his programs. A wealth tax is not the only way to place the tax burden on the people with the most wealth, but Yang has proven that his priority is to place the burden on the poor and middle class first and foremost otherwise he would not be proposing regressive taxes.
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You can make the same argument he made about capital flight for most taxes such as a top marginal tax rate. When the top marginal tax as 91% under Republican president Eisenhower, the effective rate was still only 42%, but that's still A LOT better than what it is now. That's not a reason not to do it.
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