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Tax rates for wealthy folks are what, 10%? It makes a big difference if the majority of money that is made is distributed to the people via salaries, or whether
by y7 15d ago
Tax rates for wealthy folks are what, 10%? It makes a big difference if the majority of money that is made is distributed to the people via salaries, or whether it's profits and only 10% makes its way to the people.
- mc32 15d agoProblem is there are more people who are not wealthy than there are wealthy people by a couple of orders of magnitude so even if you taxed the wealthy folks at 99%, you would not have enough to go around, if there isn't anyone to tax but wealthy folks. That is unless you think the slice of wealthy folks grows in size.
- fooker 14d agoThis is something the "eat the rich" crowd keeps missing. Sure, you could take wealth away from billionaires, and sometimes there are good reasons to, but it's weird to pretend that it will cover more than a tiny tiny fraction of a government's budget. I can't tell if it's naivety or dishonesty.
- mc32 14d agoAnother thing some do is assume wealth accumulation happens on a yearly cycle. Like if you take Musk’s ~trillion today you’ll have another trillion to confiscate next year and the year after that, etc.