Most of the higher tax countries are in a similar state of stagnation or decline.
And its not just about what other countries do - its our situation relative to our past. We have already had 20 years of rising taxes and they have recently accelerated upwards. Going from low tax to high tax (or vice versa) causes injustices becauase oeoplea lives are calibrated to own economy and its expectations.
We see this already workers are giving up and getting out. Asset inflation at the same time as net real wage stagnation has made work so unattractive peope would rather stay at Uni or as a NEET, retiree early, go part time, run a hobby business, leave, get anxiety, whatever - but not work.
We now need a period of lower taxes for working people and deregulation, mainly of planning, for growth.
And actually when you study the tax system you find all those higher tax, failing counties, in fact tax LOWER income earners a lot more. We actually tax middle and high earners quite a bit especially if they are graduates or in families.
But taxing lower income earners more in the current political economy would be impossible and outrageous in my view.
We could try taxing passive incomes and pensions a bit more as a sort of broad based proxy wealth tax.
But tbh we just need to accept that #IncomeSocialism across the West is failing. We need lower taxes on work and we need growth.
@Bbmorg You're a real broken light bulb in a dark room aren't you?
She is saying that part of the response must be political action, which is a fair comment.