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Because it is one of the key examples of how taxes trickle down. Also, do you see those old tax rates? People love to make comparisons about how housing was af
by DevKoala 2y ago
Because it is one of the key examples of how taxes trickle down.
Also, do you see those old tax rates? People love to make comparisons about how housing was affordable half a century ago, then check out the tax rates, that’s partly why.
We are at absurd tax rates and all because the government doesn’t make any effort to control their spending.
Rich individuals who are born into money will always find ways to escape these taxes, but your average person who built their wealth will not and in a decade when they hit the middle class, they will just contribute to extending the wealth gap.
- __loam 2y agoCall me crazy but I don't exactly have a ton of sympathy for temporarily embarrassed millionaires. The statement that we somehow have absurd tax rates now is completely inconsistent with the reality that taxes have been trending down for decades, punctuated by tax cuts that were made in the last decade. If you're worried about government spending and government debt, and you probably should take a macroeconomics class and realize you shouldn't be, then you ought to be in favor of reforming our codes to ensure the rich are paying a fair rate given that they benefit hugely from being in a country with developed infrastructure, a highly educated workforce, and a military that ensures global stability and unmolested shipping. Bringing up tax codes from before 1900 is just an absurd way to start a discussion about this because we've had over a century of development in monetary policy and taxation since then.
- itsdrewmiller 2y agoSo it took 130 years to go from 10% to 70% - given this is starting around .1% we will have like 400 years before it is ubiquitous? I am willing to take that risk.