Germany has a marginal tax rate of up to 95% for high net worth individuals... but it incentivizes re-investment into industry rather than stashing it away in offshore bank accounts or stock buybacks. It helps the economy, not hinders it.

This flies in the face of people who claim, "A citizenry was never taxed into prosperity." Yeah? Well, a citizenry that allows all the wealth of the nation to be funneled into private accounts in the Cayman Islands doesn't fare any better.

The idea that taxing wealthier people at a higher rate is a sin or damaging to an economy is complete propaganda, put out by the media outlets all owned by wealthy people.

Also, if you count all the 'private' taxes American's pay to buy the things that could be subsidized, I'm sure the total is eye-watering compared to what Europeans pay out of pocket.

Compare what an American spends on private healthcare, college tuition, housing and taxes vs what someone in Europe pays who has socialized healthcare, education paid for up to a bachelor's degree (like in Germany) and affordable, nice public housing options.

Ultimately, Americans are spending far more in total with way worse outcomes... all for the privilege of bragging about 'low taxes'. You definitely hit on this.

Also, Many European countries are much better at ensuring the wealthy can't dodge and weave out of paying their fair share. Finland's approach is pretty interesting; making everyone's taxes a matter of public record. Unlike the US where dodging taxes is worn as a badge of honor, in Finland it's a mark of shame. There's a fundamental cultural difference there.

Great article! I always enjoy your reading your stuff!