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You could. But you can only tax them so much. And the truly rich are able to avoid taxes by moving capital around. There are a lot of progressive spending prop

You could. But you can only tax them so much. And the truly rich are able to avoid taxes by moving capital around. There are a lot of progressive spending proposals and they all can't be paid by just taxing the wealthy. Using that money to pay for benefits that mostly go to privileged people is not the best use of dollars. College graduates make more money on average, by a lot, 30 thousand dollars. Our current system address those who have loans but don't actually get high income. They barely have to pay their loans--and often don't pay anything. A person making 35k, with an average of 3.5% a year income growth won't pay a single cent under the PAYE program if they have a family of four.

jessaustin 5y ago
As was explained to me after the most recent insider leaks of income and tax information, a mere $70M wealth is enough to avoid taxes altogether. One "invests" one's wealth, and then lives off of revolving loans against those investments. Such a structure allows one to declare a $0 income every year for the rest of one's life. So, any particular change to our current system of taxation might be flawed. However, in general, we must change our current system of taxation. https://www.newsweek.com/warren-buffett-who-advocates-higher-taxes-defends-paying-least-among-americas-richest-1598830 https://www.newsweek.com/warren-buffett-who-advocates-higher...