Quote:
Originally Posted by Harry Lime
I haven't read back far enough to see if a rate was proposed on a marginal tax rate.
Something like 50% on income over 30 million (including investment income) wouldn't eliminate incentive, IMO. It's all about finding the right balance.
Also, estate tax makes sense to me. Wealth tax has inherent problems. It's sad that the former attempt at an estate tax in the states was so easily killed simply by renaming in the media as a death tax.
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The US had an insanely marginal tax rate in the mid 20th century which is where my 94% came from.
I haven't seen anyone propose such a thing, but some are passive aggressively defending it.