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That would be ideal, but the rich/businesses would simply move to a country that charges them less taxes.
Also, the people in power and particularly the person with the most power should not WANT the job. Ideally they would have no desire for power or ambition, and only be concerned with running the country the best way for their citizens. Unfortunately, like prison warden or border guard, the job of President attracts those who are power-hungry.
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