4 ms·
I maintain that an overly progressive tax merely protects the rich because their wealth is largely in assets. Increase the income tax to 80% on Zuckerberg and h
by rpiguy 7y ago
I maintain that an overly progressive tax merely protects the rich because their wealth is largely in assets. Increase the income tax to 80% on Zuckerberg and he is just as wealthy tomorrow as he is today (well the general stock market might dip and that would hit him, but not benefit the government). He can liquidate his assets as needed in friendlier tax haven countries.
I guess I am a polar radical, because I tend to favor more aggressive marxism (seize assets/property) OR the opposite - a low income tax so that it is easier for new entrants to join the wealthy and it isn't just the same rich elite protected by income taxes forever.