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> But I don't think you can limit people's wealth and not call it communism. Is that your actual objection? It sounds more like a smear by association. Famous
by piaste 2y ago
> But I don't think you can limit people's wealth and not call it communism.
Is that your actual objection? It sounds more like a smear by association.
Famously, the USA under Eisenhower had a top marginal tax rate of 90% on income over $200K - "merely" a few million dollars in modern-day money.
Was the Eisenhower administration Communist? If it wasn't, would it have become Communist if they had gone a bit further and added a marginal rate of 99% for income over oh, let's say $20M (a few hundred million dollars nowadays)?
I think if you traveled back in time and proposed such a bill, the reaction from folks like Senator McCarthy would not have been "that's Communism" but more likely "that's a ridiculous and useless bill, how could anyone ever accumulate that much personal wealth? It would be absurd".
- mythrwy 2y agoAndrew Carnegie was worth something like 300 billion USD (today, inflation adjusted). So that level of wealth was not unknown by the time of the Eisenhower administration.
- piaste 2y agoGood point! On that note, trust-busting is also worth discussing as a counter to the modern concentration of wealth.