Review of RM income taxes in other countries
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by infin
I have just done a review of the top ten countries by GDP concerning their income taxes, especially in relation to non-high industries. There is a school of thought that suggests that by increasing the income tax in medium resource businesses, effectively killing that industry off, this will discourage future investment in that industry resulting in less demand on the workforce so that these workers can focus on high resource companies and be more productive.
In reviewing all the tax rates for major top 10 economies I can see no other example of a country that has raised taxes on medium resource sectors. In fact many countries provide lower income tax rates to their medium resource sectors.
Now I am not saying this is evidence either for or against the argument. In fact across the top 10 economies there is no pattern to their tax rates at all and they virtually seem to be determined randomly.
I just undertook the exercise to see what the big players are doing out there regarding income tax because it was suggested during the debate by sir_c0nstant in his draft CP platform. Having done it I now feel no wiser. Back to the drawing board...
Infin (ANP)
Senator for Queensland
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Might be worth checking countries with approx. population as ours.
I have made the point before that I dont believe that higher income tax on Medium RM industries will have much impact at all:
1) Its virtually impossible to make any profit in the first place and income tax is irrelevant to these GM's
2) The GM behaviour is irrational when you look at game mechanics - but clearly the GM's in question do not look.
It is my view that a government's tax policy is a much overrated macroeconomic tool
Nice work, Infin