Laughing to myself as socialism’s defenders exclaim “but its MARGINAL tax rates!”, as if that makes the 70% proposal any more ethical or intelligent. We know the rates are marginal. Doesn’t change the argument.
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The 70% tax is for income over $10M. It does not impact a single dollar on the first $9,999,999 earned that year. This impacts the 0.0006% of the population that has benefited the most from society. No one needs that much money when 1/6 children in our country go hungry each day
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How can you decide how much money someone needs? No matter our politics, we do in fact live in a capitalistic society. Earnings are exactly that......earnings. You, me, and the government have no right to determine what is fair. That’s crazy talk.
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So was US tax policy for most of the 20th Century scandalous? Isn’t it more scandalous that top 1% of Americans reap 2/3 of income gains. Many top earners know they didn’t earn that all themselves. Came w help from workers, govt infrastructure, edu etchttps://www.cbpp.org/research/top-1-percent-of-americans-reaped-two-thirds-of-income-gains-in-last-economic-expansion …
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They pay 80% of all taxes so what is fair share
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Since 82% of the wealth goes to the top 1%, I have no problem taxing them at a rate commiserate with their wealth.
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And workers do 99% of the work while getting just 18% of the wealth they generate. If Republicans truly cared about people getting paid what their work is worth, they would be socialists.
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Then they should start their own business or negotiate a better deal
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The union drives of the 1930s brought an unprecedented rise in the American standard of living by the 1950s. Then the union-busting started, and the downpour came to a trickle. If we are to make America great again, the workers need to be empowered again.
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Union over reach played a big role in its down fall as well
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The great depression was caused by the over-reach of the rich. There was plenty of money around, yet somehow we got a great depression. The standard of living dropping and the union-busting directly correlate. The stronger the unions have been, the stronger the economy has been.
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Dan, that's not how marginal tax rates work. I know you, so I know that you know that. Come on. Be better.
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I'd like to feel the pain of 70% tax. That is a good problem to have. Haha. I bet 99.99999% of the outrage people don't even come close in being affected. This is how the rich get the less savvy to defend them.
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*immoral Also, what’s immoral is letting people die because keeping only 30% of the money made over $10 million isn’t enough Greed isn’t good, Gordon
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Also, when was America great? Was it in the 50s, when the middle class was actually booming and this tax rate was law of the land?
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Can you walk down the hall and take 70% of her money, just to show her what it’s like please
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Do you know what marginal tax rate means? It means a scaled tax rate. So no she wouldn’t be taxed at 70%.https://twitter.com/paulkrugman/status/1081548638407544838?s=20 …
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No he does not know what that means
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You’d be surprised, I’m pretty smart. The point being, no sane person would allow their government to tax them at a rate of 70%. Or would defeat the purpose of effort and cause the rich to leave to a more reasonable taxing nation.
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