Quote:
Originally Posted by Jason14h
They do share their “wealth”
The business pays business taxes , and the individual income taxes and capital gains taxes
Now we want to take more after tax money that exceeds X amount , just “because”?
Not to mention how would that even work ? Force the billionaire to sell off their business every year and ensure their net worth never exceeds 1 billion until they lose a controlling interest in their company , etc ?
You want the government or someone less effective (non founders) running every large company ? Because why would anyone work after their net worth was 1 billion
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I'd just like to see a system where the guys at the top pay around 40%(Or more) of their income to the government just like you and me.
The system has backslid in such a way that allows the super rich to pay relatively less taxes than the middle class which is just broken.
"Following World War II tax increases, top marginal individual tax rates stayed near or above 90%, and the effective tax rate at 70% for the highest incomes (few paid the top rate), until 1964 when the top marginal tax rate was lowered to 70%. Kennedy explicitly called for a top rate of 65 percent, but added that it should be set at 70 percent if certain deductions were not phased out at the top of the income scale.[29][30][31] The top marginal tax rate was lowered to 50% in 1982 and eventually to 28% in 1988. It slowly increased to 39.6% in 2000, then was reduced to 35% for the period 2003 through 2012.[28] Corporate tax rates were lowered from 48% to 46% in 1981 (PL 97-34), then to 34% in 1986 (PL 99-514), and increased to 35% in 1993, subsequently lowered to 21% in 2018."
-The wikipedia.
Taxes on the wealthiest people in society have been cut continuously over the last 70 years and now we are seeing too much concentration of wealth in the top 1%. It's an easy fix, but the way I see regular joes argue against any kind of tax increase on the rich makes me think the propaganda used is too effective to overcome.