3min chapter

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch cover image

20VC: Larry Summers on How to Manage Inflation; Should We Increase Rates Even Higher, Why We Need To Change The US Tax System, Why Europe is a Museum, China is a Jail and Bitcoin is an Experiment & How a Trump Win Would Hurt the US Economy

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

CHAPTER

The Impossibility of Cutting High Tax Rates

If you're an American, you cannot avoid taxes by moving. Your tax is either a global income or you can renounce your American citizenship. Most people don't want to renounce their American citizenship because it comes with a great deal of benefit. I am somebody who believes in creating opportunity rather than going to war with inequality.

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