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Spain and Brazil push global action to tax the super-rich and curb inequality

(news.un.org)
131 points Traces | 1 comments | 02 Jul 25 10:03 UTC | HN request time: 0.611s | source
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GardenLetter27 ◴[02 Jul 25 11:21 UTC] No.44442352[source]▶
This is the wrong way to look at the issue.

The super-rich don't stay rich by just sitting on their money, they invest it.

These countries should focus on encouraging investment there - by getting rid of bureaucracy and red tape, make it possible to hire across the whole EU a lot easier, without needing separate tax registration in every country, etc.

Lower the barriers to entry wherever possible - no long application processes for developments with endless consultations, no arbitrary minority language or qualification requirements, etc.

Income inequality is a good thing, but there needs to be equal access to education and opportunities and the lowest barriers to entry possible.

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aredox ◴[02 Jul 25 11:29 UTC] No.44442417[source]▶
They invest and then they extract ridiculous rents from their investments - leading to widespread burnout, perfectly fine businesses being closed and employees being laid off because they don't give double-digit returns, empty shop spaces because it would diminish their value to lower the rent, excessive appartement rents, etc.

And an economy oriented only along the wishes of the super-rich.

Money is the way you "vote" into the economy, and the more money is in the hands of a few, the less the economy actually adresses the needs of the many.

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1. bluecalm ◴[02 Jul 25 11:56 UTC] No.44442626[source]▶
>> perfectly fine businesses being closed and employees being laid off because they don't give double-digit returns

Sounds like an opportunity to me.

>>empty shop spaces because it would diminish their value to lower the rent

Sounds like a problem land value tax solves - it should cost you to hold land ad if you can't pay you should give it up so others can make use of it.

>> excessive appartement rents

Sounds like land value tax + removing bureaucracy around building should solve that.

>>And an economy oriented only along the wishes of the super-rich.

I am not sure why you think anything in EU is along wishes of super-rich. It seems to me it's to the wishes of political cronies. I can guarantee you that "super-rich" would structure it differently.

>>Money is the way you "vote" into the economy, and the more money is in the hands of a few, the less the economy actually adresses the needs of the many.

And yet populist parties introducing anti-business policies win all the time. It's true our parliamentary systems are terrible and undemocratic but it's not because super rich, at least not in EU.