What if income taxes were lower/exempt in the early years of people’s career? Imagine no income tax until you turn 30. Would we see more innovation? Less dependence on welfare?
-
-
Replying to @fahdananta
What’s the economic theory here? Wouldn’t companies just pay people under 30 less? At the end of the day, they compete on net salary — not gross.
1 reply 0 retweets 2 likes -
Replying to @thijsniks
Maybe that’s a good counterpoint, companies can game it. I’d hope in theory young ppl learn to save, invest, and get a head start before they reach their peak earning potential.
1 reply 0 retweets 1 like -
Replying to @fahdananta
If saving is the goal, establish a wealth tax and exempt everything from before you turn 30
1 reply 0 retweets 2 likes -
Replying to @thijsniks @fahdananta
All this would do is prompt rich parents to give their young kids more money, and give an even bigger leg up to the people who already have the capacity to save/invest over those who don’t. Would exacerbate inequality
2 replies 0 retweets 0 likes
Probably. Though these are taxable gifts. Would be interesting to see if the introduction of an overall wealth tax, even with an age exemption, results in a net reduction of wealth inequality
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.
at
retweets