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> Right now the tax base rests on the middle class (which is rapidly collapsing). Where did you get that from? The wealthiest 1% of Americans alone pay 50% of
by aianus 11y ago
> Right now the tax base rests on the middle class (which is rapidly collapsing).
Where did you get that from? The wealthiest 1% of Americans alone pay 50% of the federal income tax. The bottom 80% pay only 15%.
Edit: at a 50% marginal tax rate if the 1% get 60% richer through this kind of automation and offshoring, we could lower the tax rate on the bottom 80% to zero!
Edit #2: If the 1% get 120% richer, we could start handing out checks to everyone in the bottom 80% equal to what they're paying in taxes today! See where I'm going with this?
- amlgsmsn 11y ago> The wealthiest 1% of Americans alone pay 50% of the federal income tax. The bottom 80% pay only 15%. You're confusing wealth with income.
- aianus 11y agoI'm aware of the distinction but it doesn't make a difference to my argument. If MegaRoboCo Inc. and their contemporaries are making $1 trillion a year each in 2050, the tax revenues (corporate, capital gains, income on dividends, income on executive compensation, whatever) can be enough to support the resulting mass unemployment.