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Paywall, but yes, great. Sucks they're limiting the tax to the 0.0001% instead of the 1% though but understand.
by notananthem 5y ago
Paywall, but yes, great. Sucks they're limiting the tax to the 0.0001% instead of the 1% though but understand.
- throw_nbvc1234 5y agohttp://paulgraham.com/wtax.html http://paulgraham.com/wtax.html 60 year timeframe is probably off for most billionaires but the underlying point still stands.
- WkndTriathlete 5y agoThe top 0.1% - 10% already pay the majority of taxes in the US. Beyond 0.1% the tax rate drops off due to loopholes in the tax code. Eliminating all of the loopholes, re-evaluating the marginal tax rates, and taxes on corporate income or a VAT make sense. Unfortunately it seems to easy to whip up people into a frenzy about some of those solutions because they can't math.
- coolspot 5y agoTo be in the top 1% by income a family has to earn $421,926 (basically povetry level in Bay Area) https://www.cnbc.com/2018/07/27/how-much-you-have-to-earn-to-be-in-the-top-1percent-in-every-us-state.html https://www.cnbc.com/2018/07/27/how-much-you-have-to-earn-to...
- refurb 5y agoYou didn’t just claim $421,926 per year for a family in the Bay Area is “basically poverty level” did you?
- jxidjhdhdhdhfhf 5y agoClassic Hacker News: I earn $800k at my FAANG job which puts me barely above the poverty line in CA. Please don't raise my taxes or I'll be living under a bridge.
- jelliclesfarm 5y agoYes, they did. This is why everyone hates Silicon Valley tech bros.
- nrmitchi 5y agoSome people seem to have a very skewed perspective on "poverty". "After paying all of the expenses for my upper-middle-class lifestyle, and saving for retirement, and supporting my aging parents, I have barely anything left over. It's basically poverty!!"
- carnitine 5y agoYou see, after funding my incredibly comfortable lifestyle and saving for retirement, I only have a thousand per month to spend on toys.
- deleted 5y ago[deleted]
- jxidjhdhdhdhfhf 5y agoHigh COL is not an excuse to avoid paying higher taxes. If you can't afford CA (you definitely can on $421k) then live somewhere else. There are dev jobs everywhere.
- coolspot 5y agoBut they already paying higher taxes, that what progressive tax scale is for!
- jxidjhdhdhdhfhf 5y agoDoesn't mean they can't pay more.