05-15-2020, 11:47 AM
Fair enough re: Churchill, Goose.
As for unemployment, another part of the puzzle is likely having paid sick leave and other safety nets in place for a lot of countries on that list. People forget for every acton there is an equal and opposite reaction. We can cut corporate tax rates and take away social safety nets all we want, but when the pendulum swings back, more people are thrown on to unemployment roles.
Countries like Sweden and Denmark have much higher tax rates, but their citizens aren't at risk of starving or being kicked out of their homes when times get tough because they have a much more balanced pendulum. The sad irony is we're probably going to end up paying more on a per capita basis to provide emergency spending to save the whole system from collapse than those countries who paid more to have safety nets in good times.
As for unemployment, another part of the puzzle is likely having paid sick leave and other safety nets in place for a lot of countries on that list. People forget for every acton there is an equal and opposite reaction. We can cut corporate tax rates and take away social safety nets all we want, but when the pendulum swings back, more people are thrown on to unemployment roles.
Countries like Sweden and Denmark have much higher tax rates, but their citizens aren't at risk of starving or being kicked out of their homes when times get tough because they have a much more balanced pendulum. The sad irony is we're probably going to end up paying more on a per capita basis to provide emergency spending to save the whole system from collapse than those countries who paid more to have safety nets in good times.