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No, it's not, and no, you aren't. Tax brackets only increase in rate. Tax rates don't start coming back down for the super rich. If your income was in capita
by ALittleLight 4y ago
No, it's not, and no, you aren't. Tax brackets only increase in rate. Tax rates don't start coming back down for the super rich. If your income was in capital gains you would pay the capital gains rates. If the billionaire's income came in through salary they would pay income tax.
- truckerbill 4y agoBut they mostly don’t get paid in salary do they so it’s a strawman. The amount of tax paid is proportional to the general utility of the money (wrt day to day living), rather than the inverse. It’s dumb
- sleepychu 4y agoBut I can't choose whether my income is in cap or income and the people with the most in capitalism pay the lowest effective tax rate. Who cares how you came by the money? It is fungible.
- MisterBastahrd 4y agoPerhaps you might want to learn how people actually get taxed before complaining about brackets. There are plenty of taxes out there that have jack squat to do with income brackets, and poor people pay a higher percentage of their income towards those than many other people while also having a much higher opportunity cost per hour worked.
- 8note 4y agoThe richest take out loans though. Those aren't counted as income or capital gains