What High-Tax Europe Really Looks Like

Both Bernie Sanders and Elizabeth Warren suggest taxing the rich as a solution to the revenue problem their proposals would engender. As capital flight (people relocating due to high tax rates) increases and interest in investment and entrepreneurship diminishes, the question remains: who will pay for the programs Elizabeth Warren and Bernie Sanders are promising?

Source: What High-Tax Europe Really Looks Like - Foundation for Economic Education

When people speak of implementing massive new government programs, they usually claim the rich will pay for it. At the end of the day, this won't happen. Or at least, in addition to the rich paying for it, everybody else will too. If you are talking about something that is going to double the size of government, if you pay income taxes now, you will pay far more then. If you aren't paying income taxes now and have any income at all, then you will probably start paying. There are other trade-offs as well.

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