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It's not about punishing anyone. It's about restructuring the tax code to incentivize paying workers more. It sets an effective salary cap of ~$10m.
by jonahhorowitz 8y ago
It's not about punishing anyone. It's about restructuring the tax code to incentivize paying workers more. It sets an effective salary cap of ~$10m.
- NegativeK 8y agoEven if income over $10m is taxed at 90%, you still make more money when you get a raise.
- briandear 8y agoTim Cook made $12 million in total comp last year. Apple has 132,000 employees. If he made $0, that would be an extra $90 per year for each employee. And, after taxes, that would mean more like an extra $60 per year per employee. Basically an extra $2.30 per paycheck. Want to increase worker pay? Cut taxes.
- dorchadas 8y ago> Want to increase worker pay? Cut taxes. Sure, because worker pay has been increasing so much (adjusted for inflation) since the 80s.