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The increasing lack of a mass market consumer base for capitalist goods & services also threatens economic growth. In other words it does society more economic good for everybody to be able to afford a dishwasher than for a few people to be able to afford luxury goods. We've had decades of rather low tax rates and decades of rather low growth and no solutions given other than to double down on the low-tax investment-first strategy.

Low taxes sure bolster economic growth in the short term and bolster investment but they also lead to forms of societal decay like income inequality which leads to crime which leads the more demand for order which leads to cementing the accumulation of power. Left unchecked the powerful will accumulate resources out of line with their actual merit to society through the leverage of their existing capital. We're in a situation now where it's increasingly obvious how the rich are overcompensated relative to their productive output but countries race to the bottom to compete for their capital. If this race to the bottom were not happening every country would be better off taxing the wealthy more fairly but we're in a tragedy of the commons situation.




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