4 ms·
in the 1930s through the early 1980s, the marginal tax rate for the wealthy was 70-85%. In the late 1980s it went down to 28% and is now at 37%. Historical tax
by France_is_bacon 5y ago
in the 1930s through the early 1980s, the marginal tax rate for the wealthy was 70-85%. In the late 1980s it went down to 28% and is now at 37%. Historical tax rates on the highest marginal rates: https://www.taxpolicycenter.org/statistics/historical-highest-marginal-income-tax-rates https://www.taxpolicycenter.org/statistics/historical-highes... In the 1980s, Ronald Reagan lowered the tax rate by so much, and that's when the country started going to the dogs.
What you say about the wealth not being in piles of cash is completely incorrect. The stock has value, and the super wealthy can use their stock ownership as collateral and get as much cash as they wish. Cash is not an issue for the super wealthy. Additionally, while the owners take a salary of $1, let's say for kicks, in addition to getting unlimited cash, they also get other perks as well - like company jets, and limos with drivers, etc. I don't know if Bezos does, but many business owners do.
I think that Bezos should control the company, but there could be a 90% tax on wealth (not income) at the highest marginal rate and that would be fine with me. It's been there before in the USA's best years, where there was money to build roads and bridges, and pay for student's educations at public universities.
It's not like Jeff Bezos and those people like him are going to quit if we limit their wealth to $1 billion or $5 billion.
But the rich are a bunch of c-nts. San Francisco said that they would raise taxes for the richest by 1%...1 f-ing percent, in order to help the homeless, which is a big problem there, and the wealthy started making noises about leaving San Francisco because of that. What utter c-nts the wealthy are.
Here is how wealthy Jeff Bezos is, and how wealthy the .0001% of our population is - that are as rich as the bottom 60% of the USA. Below is a graphic that shows actual wealth of Bezos accurately, which we never see, ever. Can you get to the end? I never have been able to yet. Just use your right arrow key to start scrolling. Here it is: https://mkorostoff.github.io/1-pixel-wealth/ https://mkorostoff.github.io/1-pixel-wealth/