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The tax function is continuous. There are steps in the _incremental_ tax rates, which results in the overall tax rate increasing smoothly with income. The bigg
by LeegleechN 6y ago
The tax function is continuous. There are steps in the _incremental_ tax rates, which results in the overall tax rate increasing smoothly with income.
The bigger problem is that the rules are written to apply effectively to wage earners but the truly rich are not wage earners, they're capital holders who get discounted dividend and capital gains rates and can structure themselves as corporations (again with favorable rates).
- spacemanmatt 6y agoThis is crucial: Individuals are not businesses but American tax code allows for that fiction.
- hexbinencoded 6y agoThe rich bought tax chicanery with some billions to rake in trillions. Besides that, they're killing us all and the planet by preventing net negative carbon emissions, capture, and sequestration. No luxury prepper bunker can save them, us, or anything from this man-made catastrophe apart from spending tens of trillions on CCS. Money won't matter if you're and everything is dead.