Originally Posted by
Paul852
If by "socialist" you mean having some sort of welfare state then yes I guess so. But that is the American definition of socialist. Conservatives in most developed countries regard a welfare state as a mark of a civilised society. At a quick look, the top marginal tax rate in Australia appears to be 47%. That's far from extreme - I grew up in the UK when the top marginal tax rate was 85%.
Not going to argue the pros and cons of socialism or even a welfare state. History is an excellent judge of those. It is important, however, to assess whether a welfare state is a safety net for those who cannot or rather a handout to able-bodied adults to buy votes.
As for tax rates, I regard anything much beyond those assessed in HK to be excessive, which probably tells you all you need to know about my views on the welfare state and big government. I accept that there are valid opposing views. I simply don’t agree based on my knowledge of history and current events. I acknowledge that utilitarianism isn’t always fair, but neither is rights fundamentalism.
PS - An 85% tax rate destroys almost all incentives to make more money. Would you work EFP if it were going to be taxed at 85%? I certainly wouldn’t.