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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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She's proposed that rate to be applied only at the margins and for income above $10M. If you want to engage in ideas, properly convey the ideas you care to criticize. We expect more from our new Congressman. 77005
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Dan, don't be dishonest about the proposal. There's nothing radical about taxing income above $10 million at a high rate. In 1980, taxing incomes above $216,000 (that's $658,213 today) at 70% was a moderate, mainstream idea.
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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 etc
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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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