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And yet they keep getting richer. One of the reasons is what the tax income is spent on. For example military expenditure benefits primarily elites and high tec
by Synaesthesia 9y ago
And yet they keep getting richer. One of the reasons is what the tax income is spent on. For example military expenditure benefits primarily elites and high tech business not so much the general population.
- mi100hael 9y agoOk, but that's moving the goalposts in a discussion regarding income tax reform.
- zanny 9y agoThe rich getting richer are not accumulating wealth under taxable income. I absolutely agree to an extremely high top income tax bracket where you effectively cap salaried and paid compensation but anyone legitimately rich is making money off of money through capital gains, not through labor. The problem with income tax in the US is that there are two classes of people - labor and owners - and owners are taxed substantially less at all tax brackets than labor, and have much less progressive taxation, and have never had limits put on the amount of money they can make through ownership. On purpose. No wonder the rich only get richer, the fundamentals of the tax system are setup to bias everything in their favor.