3 ms·
> because x% of a lot of income is a lot bigger than x% of a little income. If you make $10k a year, vs someone who makes $10M a year, and both are taxed the s
by sethammons 5y ago
> because x% of a lot of income is a lot bigger than x% of a little income.
If you make $10k a year, vs someone who makes $10M a year, and both are taxed the same, the lower income person loses more purchasing power. At 15%, The hit of $1.5k is a harder loss than than the $1.5M.
- boring_twenties 5y ago$10k is definitely under the 1.5-2x poverty threshold proposed by the comment you're replying to. Under their proposal, the $10k earner would pay no income tax at all.
- sethammons 5y agoNumbers for illustrative purposes. A graduated tax is more fair from a purchasing power perspective.