A quick thread on the economics of a much higher top rate for the super-rich.
TL;DR version is that @AOC is on very solid ground here.
There is a lot of evidence that from an economic and fiscal perspective, we'd be way better off with top rates approaching 70.https://twitter.com/politico/status/1081207384960368640 …
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Dude, I don’t know what kind of world you’re living in but I get taxed over 50% on a measly 50K bonus. I’d be happy if the people who received 50 Million paid even that rate!
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Are you being sarcastic?? You can’t be serious with the phrase “measly 50k bonus” holy shit
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That's my point exactly, Brooke. $50k bonus is far from measly. In fact, $50k is more than many if not most Americans earn all year. Which makes his position incongruent. If a $50k bonus is "measly" then, in the context of this thread, he should not complain about a 50% tax rate
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Why don’t you try wrapping your head around the context of comparing it to 50M. And it’s “her”. You’ve gone so far off the rails of the thread.
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Oh... I see. How about $50B or $50T? It's still other people's money.
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I’ll gladly pay 99% tax if that also means I’m making an income over 10 million dollars annually. It’s also safe to assume that if I was making that much, it would be as a result of a civilized society, laws/infrastructure, that I would be disproportionately benefiting from.
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You do understand that it's not 70% of $10m, right? You'd pay 70% *after* $10m. If the tax rate is 0% until $10m then 70% after, if you make $15m you'd pay $3.5m in taxes. Before getting into the ethics of taxation, you do realize that's how it works right?
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You do realize that the tax rate on the first $10M is not zero, right?
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Yes, that was a simple example.
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My tax liability now is more than I made in my first career position, yet my lifestyle is far more comfortable and secure than it was then. My higher tax bracket has a drastically diminishing impact on my lifestyle as my income rose. Next selfish, dumb argument?
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Sounds like you make more than most, you should pay more.
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You don’t get it.
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Why is this adminiatration making me pay 32% ? Thanks for convincing me he needs to go Unfair !!
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You really really don’t understand this do you? It is all playground fairness to you isn’t it?
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Yes, it is very ok.
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Yes, those who benefit most should pay the most.
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