A gentleman-farmer (actually he’s more like a gentleman-builder) by the name of Charles Hugh Smith recently put into clear words a concept which has been bothering me for a few years now. There is never ending talk of shortfall of revenue to fund Western social systems and medicine. At the same time, our largest companies are not paying taxes – or at least very few. With a corporate tax rate at 35% (United States, Europe is similar) but real payments hovering around 10% with technology companies aiming at less than half that, it’s not a wonder our social systems are falling apart.
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