The Next 100 Years of Taxes
There’s a lot of discussion at the moment about new forms of taxation, whether taxation should serve as an economic or a social tool, and what the future of taxes will look like. Here’s my prediction for the next 100 years, and what I think should happen to revolutionise taxation.
The first question humanity will have to answer is this: do we want taxation to boost the economy to make us all richer, or create a more level playing field? Well, I say “have to” — we’ll probably just spend the next 100 years bickering about it instead of actually deciding. However, this will be the underlying focus of the debate of future years.
Taxation, broadly speaking, is used currently to boost economies. The largest and most influential countries aren’t anything close to socialist: there is an element of redistribution, but taxation is relatively low and economics are the priority of most governments.
However, the current method of redistribution through taxation is not NIT or UBI. It is simply taking more money through taxation, and using this to fund better public services and schemes to create a level playing field and equality of opportunity.
That won’t be the case in the future, not least because of how unhelpful this model is economically. Socialism in its true form doesn’t really work over any long period. The future of…
