Strong and prosperous economy built by progressive tax rate that used to tax up to 70% of non-work income, and now tax most of it 27-29% (depending on the corporate taxe of the state). The people who can use loopholes to avoid income taxes also pay reduced consumption tax (they usually pay the 'Use tax' rather than sale tax in the US, and can basically ignore VAT in Europe).

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KingMob 19 hours ago | parent | next [-]

Americans really gloss over that the 50s was a high-water mark for both the economy and tax rates.

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simonh 19 hours ago | parent | prev [-]

Sure, capitalism isn't perfect. No economic system is, mainly because they're all composed of us semi-evolved chimps. Every economic system has that problem. Getting rid of or severely constraining economic freedoms isn't a solution, it makes it worse.

	▲	beepbooptheory 15 hours ago \| parent [-]
		Ok but if its taken you just three comments to get to "well... nothing is perfect I guess" where did that initial conviction come from?? Like why even play out this same argument if your heart isn't even in it? Is it a sense of obligation? If anything, you do your entire position a disservice by folding so quickly. It just goes to show noone deep down even believes these stories anymore, even we expect others to. Like, yes, we are discussing an "imperfection" here! You are the one that asserting the greater perfection, not the lesser.