But the system – as it is now – certainly rewards these high score chasers quite well.
“Don’t hate the player, hate the game”… (insert “Why not both?” pic)
3 Likes
Agreed that almost nobody will pay the 70% rate, but I’m not so sure that many of those who make more than $10 million a year will have to make anything “vanish.” Few, if any, corporate CEOs are earning $10 million or more in taxable income – much of their compensation comes in other forms, like stock options, where the profits are taxed as capital gains (so 15-20%). I wouldn’t be surprised if it’s mostly folks like entertainers and professional athletes, especially those with big endorsement deals, who pay the top rate. The Wilbur Rosses of the world certainly will not be.
I suspect the headline about “uneasy laughter” at Davos is an exaggeration. If it is not, then I have to believe the uber-rich in attendance don’t understand marginal tax rates and, frankly, I find that hard to believe.
1 Like
I say ”of course” because the people proposing this (like @AOC) are brand new progressive members, not the old guard who are upset with the newbies, and they have specifically talked about removing those loopholes.
Sure it rewards them well but you’re missing my point. They’d be rewarded even better in a more equitable society.
And proud we are of all of them.
2 Likes
They got the TV, we got the truthi do! especially the progressive taxation kind. charity and donations aren’t enough because they are too randomizing. i want everyone to be in it together. and in years i do well, i want to pay my fair share into the society that has allowed me to do well.
i would vote my taxes higher right now if it gave everyone healthcare, and/or student loan forgiveness, and/or better public transportation, and/or publicly owned internet lines.
money is only important in that it lets us meet our needs, and then enjoy the excesses. if we can, through taxes, meet the needs easier… sign me up. we can do more together than separate.
4 Likes
-
We aren’t talking about people who want or need any of those above things.
-
Fair point, I suppose I would to (depending on the increase) but it rarely seems where a tax increase goes to something like that. It’s usually patching up old programs, making a new department of government, or buying failed multi-role fighter programs.
1 Like
We are, however, talking about a group of people who refuse to acknowledge that they live in a society and should be expected to contribute to it in ways that don’t include hoarding literally 50% of the nation’s wealth. The answer to “how will we pay for it?” is always “reduce the number of obscenely wealthy people in the country”.
The wealthy people who have more than 99% of the people in this country – let alone the rest of the world – will ever see in a thousand lifetimes happen to dislike that idea.
Fuck them.
4 Likes
This topic was automatically closed after 5 days. New replies are no longer allowed.
