4 ms·

It should be in proportion to how many % of the wealth they own. So more like 90%

eanzenberg 7y ago
The 1% earn 36% of the income[1] as of 2016, and pay 37% of the taxes[2]. Everyone happy now? [1] https://www.cbpp.org/research/poverty-and-inequality/a-guide-to-statistics-on-historical-trends-in-income-inequality https://www.cbpp.org/research/poverty-and-inequality/a-guide... [2] https://taxfoundation.org/summary-latest-federal-income-tax-data-2018-update/ https://taxfoundation.org/summary-latest-federal-income-tax-...
- macintux 7y ago
  Income != wealth
  - pmiller2 7y ago
    Indeed, many billionaire and multimillionaire CEOs famously take a salary of $1. Bezos takes a salary of around $80k, IIRC. And, I'm not even sure if Bill Gates is taking a salary at all these days.
  - eanzenberg 7y ago
    Income is taxed.
    - tfehring 7y ago
      But the top 1% own much more than 37% of the wealth (and accordingly receive much more than 37% of the financial benefits of government spending) while only paying 37% of the taxes (which fund that government spending).
      - Anon1096 7y ago
        > and accordingly receive much more than 37% of the financial benefits of government spending what?
        kalleboo 7y ago
        They wouldn't have all that wealth if it wasn't for infrastructure, an educated population, a stable political situation, continual bailouts, and the world's largest war machine.
        pjmorris 7y ago
        e.g. aircraft carriers
    - UncleMeat 7y ago
      The wealthy produce more income via capital gains, which are taxed at lower rates. They also have greater access to tax deferred and tax free options. A married couple of high earners with a good retirement plan at work can put nearly 150,000 annually in accounts that grow tax free.
glennvtx 7y ago
They will simply leave, or destroy the system.
- deleted 7y ago
  [deleted]
- tsimionescu 7y ago
  How do you imagine this would work? Would no one in America found companies anymore? Would the government sit by and allow the to leave? How would companies like health insurance leave? Imagining that the richest can hold a country like the US hostage is preposterous.
- thatcat 7y ago
  No, they would try to make a bunch of shell corps and have only 1% in each corp. Distributing the wealth (to other entities that they control less directly). It would essentially just destroy brand recognition for large companies.
- mcv 7y ago
  They're welcome to leave. Society doesn't need rich people. Destroying the system would do more damage, but so far it's been their system that enables their accumulation of wealth. There are a lot of poor people who want to destroy that system.

The 1% earn 36% of the income[1] as of 2016, and pay 37% of the taxes[2]. Everyone happy now? [1] https://www.cbpp.org/research/poverty-and-inequality/a-guide-to-statistics-on-historical-trends-in-income-inequality https://www.cbpp.org/research/poverty-and-inequality/a-guide... [2] https://taxfoundation.org/summary-latest-federal-income-tax-data-2018-update/ https://taxfoundation.org/summary-latest-federal-income-tax-...

macintux 7y ago
Income != wealth
- pmiller2 7y ago
  Indeed, many billionaire and multimillionaire CEOs famously take a salary of $1. Bezos takes a salary of around $80k, IIRC. And, I'm not even sure if Bill Gates is taking a salary at all these days.
- eanzenberg 7y ago
  Income is taxed.
  - tfehring 7y ago
    But the top 1% own much more than 37% of the wealth (and accordingly receive much more than 37% of the financial benefits of government spending) while only paying 37% of the taxes (which fund that government spending).
    - Anon1096 7y ago
      > and accordingly receive much more than 37% of the financial benefits of government spending what?
      - kalleboo 7y ago
        They wouldn't have all that wealth if it wasn't for infrastructure, an educated population, a stable political situation, continual bailouts, and the world's largest war machine.
      - pjmorris 7y ago
        e.g. aircraft carriers
  - UncleMeat 7y ago
    The wealthy produce more income via capital gains, which are taxed at lower rates. They also have greater access to tax deferred and tax free options. A married couple of high earners with a good retirement plan at work can put nearly 150,000 annually in accounts that grow tax free.

glennvtx 7y ago

They will simply leave, or destroy the system.

deleted 7y ago
[deleted]
tsimionescu 7y ago
How do you imagine this would work? Would no one in America found companies anymore? Would the government sit by and allow the to leave? How would companies like health insurance leave? Imagining that the richest can hold a country like the US hostage is preposterous.
thatcat 7y ago
No, they would try to make a bunch of shell corps and have only 1% in each corp. Distributing the wealth (to other entities that they control less directly). It would essentially just destroy brand recognition for large companies.
mcv 7y ago
They're welcome to leave. Society doesn't need rich people. Destroying the system would do more damage, but so far it's been their system that enables their accumulation of wealth. There are a lot of poor people who want to destroy that system.