Comments by "E Dennis" (@edennis8578) on "Wall Street Weighs In On AOC's Proposed 70% Marginal Tax Hike | Davos 2019" video.

  1. That's what Warren Buffet did; he moved the headquarters for Burger King to Canada because their tax rate was lower than ours. Yes, Warren Buffett, the king of "the rich don't pay enough taxes."
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  2.  @13tuyuti  Higher taxes make people invest LESS, and that's how it always works in the real world. Higher taxes also incentivize people to work LESS in the real world. You have to know how people ACTUALLY react, not how you WISH they would react in order to make smart decisions.
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  3. 208: are you stupid? For one thing, look at what happened to France when they raised the top income tax rate to 70%; rich people LEFT. You can now buy castles in France, move in ready, for about €300,000, because the owners are GONE. They left the country. Warren Buffet, the king of "the rich don't pay enough taxes," moved the Burger King headquarters to Canada because their income tax rate is LOWER than ours! For another thing, do you really think the federal government, once they start raising taxes, is going to stop with the top 1? That's beyond naive.
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  4.  @diamondwave100  When France raised their top income tax rate to 70%, the rich left in droves. You can buy castles, move in ready, for about €300,000 because the owners are GONE.
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  5. You act like economic class is fixed. It isn't. People move up and down in their economic class all the time. Draconian income tax rates takes away the incentive to be more productive. That is why Soviet Russia had 3-hour lines to buy toilet paper - if everyone makes the same money whether they are productive or not, then people stop trying. https://www.economist.com/united-states/2014/02/01/mobility-measured
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  6.  @lucianraphael9527  Or their rich flee the country, like they did in France.
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  7.  @thematuregamer2027  Sure, that's why Warren Buffet moved the headquarters for Burger King to Canada because - ta da - Canada's income tax rate was lower than ours! So what good is anything coming out of Warren Buffet's mouth, and why would you trust him?
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  8.  @IronJoeHorn  No, it wasn't in practice: https://taxfoundation.org/taxes-rich-1950-not-high/
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  9.  @arisgod2749  And Warren Buffet moved Burger King's headquarters to Canada because their tax rate was lower than ours. Nobody should believe anything that that hypocrite says.
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