7 ms·
You could also ask the question what they are protecting themselves from. Maybe they expect at some point that the masses will no longer want to keep paying ta
by koonsolo 8y ago
You could also ask the question what they are protecting themselves from.
Maybe they expect at some point that the masses will no longer want to keep paying taxes an lose money, while the rich have all the means to circumvent taxes and leverage their wealth.
I don't see the breaking point yet, but there is definitely a breaking point.
- elsewhen 8y agothe top 10% of taxpayers paid 70.87% of federal income taxes in 2014 [0]. and did you know that the bottom 50% paid 2.75%? would dropping that 2.75% down to zero (which sounds fine to me) avert the breaking point? [0] https://files.taxfoundation.org/20170201145744/FF540-1.png https://files.taxfoundation.org/20170201145744/FF540-1.png
- koonsolo 8y agoTop 10% of tax payers =/= top 10% of wealthiest people. If you know how taxes work, and know how multinationals do taxes, you know enough.
- elsewhen 8y agocapital gains taxes represent less than 10% of total revenue [0] raised by the IRS. sure the rates can be raised, but is that going to make a meaningful dent? [0] https://pocketsense.com/percent-irs-revenue-comes-capital-gains-tax-1105.html https://pocketsense.com/percent-irs-revenue-comes-capital-ga...