America isn’t lost, it’s Adrift (with Scott Galloway)
Pitchfork Economics with Nick Hanauer
00:00
What Are the Average Tax Rates?
The wealthy have made such an incredibly complex tax code with all sorts of loopholes that the people who can afford a Sherpa are just have a greater likelihood of surviving on Everest than people who don't. The government needs 23% of GDP to operate, and sometimes it goes to 22 or 24%. And because we borrow money, we do have a spending to fund a lot of it. Loosely speaking, we need 21% taxes. If you had corporate taxes at 30%, if you had personal income taxes, do away with capital gains or current income. It's just all money.
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