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My initial thought with this is that the rich would find loopholes around this tax, the upper middle class would pay it, the struggling middle class and poor wo
by jb775 7y ago
My initial thought with this is that the rich would find loopholes around this tax, the upper middle class would pay it, the struggling middle class and poor would barely be taxed....so basically the upper middle class would be dragged down towards the struggling middle/poor, therefore making the underlying issue worse.
- tempsy 7y agoNot sure how that would work. Warren’s tax starts at a net worth above $50M. How would someone who is upper middle class pay for it.
- ghufran_syed 7y agoThe same way the AMT started as a tax on "the rich" and now regularly affects middle class earners
- jb775 7y agoIndirectly at first primarily via wage stagnation and inflation, then directly via additional taxes. Additional taxes will follow the same pattern as my original comment, further compounding the problem. We need to think about this issue from different scopes at the same time. The optimal solution is probably fragmented across a few of them, we just need to figure out how to put the pieces together.