+37 The highest tax bracket should tax at a rate of 100%, amirite?

by Powerful-Seesaw 7 months ago

If there's a cap, it's going to incentivize people to hide money as they get closer to it or hide money so they dip below that cap.

by Anonymous 7 months ago

no way nobody would ever commit tax evasion by hiding income in foreign companies and banks

by Anonymous 7 months ago

I think the wealthy should be taxed more, and we should close loopholes to prevent them from weaseling out of paying. But I'm really suspicious when someone wants to arbitrarily decide how much someone else can have.

by Brayan85 7 months ago

Edgy

by wellington28 7 months ago

Oh come on. Yes, the rich should pay more taxes. But making income completely meaningless past a certain point is just dumb, and would actually lose revenue compared to just having it jacked up to 70%.

by Anonymous 7 months ago

1) Money isn't "hoarded" by wealthy people but kept in banks and assets. The banks constantly use that money as leverage for loans and trades. So the money stashed in offshore accounts actually in a weird way works for the people. 2) the wealth or worth of a billionaire is measured in total assets not disposable income. Those assets are companies, government bonds, etc. Every part of these investments actually works for the people through providing jobs, marketable services, generates IP, and so on.

by Anonymous 7 months ago

I think it's fair, as long as you let those people also choose your tax rate.

by Anonymous 7 months ago

I think 100% won't work as it really encourages people to do silly things to get around it. Though up at 90% or something makes sense to me.

by Anonymous 7 months ago

Not an unpopular opinion ..the only people that don't are elected officials , and their millionaire/ billionaire donors

by Zestyclose_Steak7315 7 months ago

The money isn't hoarded though, that wealth is mostly stock of their company. And before we look at taxing people even more, why don't we figure out why the $1.5 trillion* dollars spent every year on welfare doesn't seem to make a dent?

by Anonymous 7 months ago