That depends on your definition of quality of life. Did you not listen to the guest talk about how the European countries are basically broke? They can’t afford all their social welfare programs, they have huge housing problems, young people have to live with their parents because they can’t afford to move out, the NHS in the U.K. is practically bankrupt, their militaries are worthless and they can’t afford to rebuild them, electricity costs a bloody fortune, most people live in about half or less than half the square ft of house or apartment that US citizens are used to, and you’re only allowed to go to college if you were placed in a college prep track in middle school based on standardized test scores. In France, IF you pass the “Bac” at the end of high school, and IF they have enough room to take you at university, the government tells you which university you are allowed to go to after a selection process called Parcoursup. It’s an online process that takes forever and not everyone finishes it by getting a place in university. So if that’s how you want to live, feel free to move there.
In the UK I have 31 days of paid holiday. Do you have that in the US? No. You are literally worked to death. For what? For the bigger GDP? Unclean drinking water? School shootings? Opioid crisis? Is that worth working more and more hours to just stay even?
It was the income tax with its high upper marginal rates that created our inclusive and extensive middle class that has been eroded by the GOP tax cuts for the rich since Reagan. We did very well under highly progressive taxation.
False. Highly progressive taxation was ended by JFK/LBJ. They cut the top tax rate from 91% to 70%. The cut raised revenue and increased growth. When Reagan reduced income tax rates, it once again improved growth. Rates were tweaked multiple times during his two terms, both up and down, because Reagan was a tax optimizer, not a doctrinaire tax cutter. Reagan ultimately signed the bipartisan Tax Reform Act of 1986, which is regarded by economists as a model of how to do tax reform.
Nope, true. Prior to the income tax and its high upper marginal rate the middle class was essentially those who could afford paid help in the home, rather small. However, after the income tax it grew tremendously to include no and low skilled workers.
We did very well under high upper marginal rates and 70% is still very high compared to that at Reagan, because it coerced the rich to invest in their businesses and workers rather than take themselves. Therefore, it has nothing to do with growth, as under low upper marginal rates profits flow to the capitalists, those who don't work, rather than the workers because they take the profits for themselves because a) the upper marginal rates don't penalize them for taking it and (b) the capital gains tax taxes working at a higher rate than not working.
All Reagan and subsequent GOP tax cuts did was increase the wealth gap, with more flowing to the top than the middle class.
Biggest GDP but far from the best quality of life due to the obscene wealth gap.
That depends on your definition of quality of life. Did you not listen to the guest talk about how the European countries are basically broke? They can’t afford all their social welfare programs, they have huge housing problems, young people have to live with their parents because they can’t afford to move out, the NHS in the U.K. is practically bankrupt, their militaries are worthless and they can’t afford to rebuild them, electricity costs a bloody fortune, most people live in about half or less than half the square ft of house or apartment that US citizens are used to, and you’re only allowed to go to college if you were placed in a college prep track in middle school based on standardized test scores. In France, IF you pass the “Bac” at the end of high school, and IF they have enough room to take you at university, the government tells you which university you are allowed to go to after a selection process called Parcoursup. It’s an online process that takes forever and not everyone finishes it by getting a place in university. So if that’s how you want to live, feel free to move there.
They are not broke. Their life expectancy continues to increase. America's has stagnated and reversed in recent years... https://www.healthsystemtracker.org/chart-collection/u-s-life-expectancy-compare-countries/
In the UK I have 31 days of paid holiday. Do you have that in the US? No. You are literally worked to death. For what? For the bigger GDP? Unclean drinking water? School shootings? Opioid crisis? Is that worth working more and more hours to just stay even?
It was the income tax with its high upper marginal rates that created our inclusive and extensive middle class that has been eroded by the GOP tax cuts for the rich since Reagan. We did very well under highly progressive taxation.
False. Highly progressive taxation was ended by JFK/LBJ. They cut the top tax rate from 91% to 70%. The cut raised revenue and increased growth. When Reagan reduced income tax rates, it once again improved growth. Rates were tweaked multiple times during his two terms, both up and down, because Reagan was a tax optimizer, not a doctrinaire tax cutter. Reagan ultimately signed the bipartisan Tax Reform Act of 1986, which is regarded by economists as a model of how to do tax reform.
Nope, true. Prior to the income tax and its high upper marginal rate the middle class was essentially those who could afford paid help in the home, rather small. However, after the income tax it grew tremendously to include no and low skilled workers.
We did very well under high upper marginal rates and 70% is still very high compared to that at Reagan, because it coerced the rich to invest in their businesses and workers rather than take themselves. Therefore, it has nothing to do with growth, as under low upper marginal rates profits flow to the capitalists, those who don't work, rather than the workers because they take the profits for themselves because a) the upper marginal rates don't penalize them for taking it and (b) the capital gains tax taxes working at a higher rate than not working.
All Reagan and subsequent GOP tax cuts did was increase the wealth gap, with more flowing to the top than the middle class.
The education in France is years ahead of ours in the US.