Work hard, so that the government can redistribute your success?
Or you have the problem of businesses slowly losing their owners, who then stop caring about their clients or community.
What is the result of these taxes? Where does the money go? Does it lead to more economic activity or less?
[–] adwn 1 day ago
[–] newsclues 1 day ago
I'm on disability, and if I make over $1000 a month, anything over $1000 gets taxed at 75%.
Do you think I work enough to make over $1000 a month? Do you think I'd scrub toilets for $20 per hour and take home only $5?
Hint: after $1000, I either get paid cash or don't work
[–] angusturner 1 day ago
You understand that billionaires don't make money from labor right? They get their money from rents and the return on capital. Roughly 5-7% per year, compounding, risk free, for perpetuity.
Why take on a job when you have to pay income tax? Because you'll still have much more left over than if you didn't. And this answers your question: because you'll still have much more left over than if you didn't start a business.