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Right, and when you make $10k per year a hamburger costs $1, and when you make $50k per year a hamburger costs $5, and when you make $100k per year a hamburger
by tthomas48 13y ago
Right, and when you make $10k per year a hamburger costs $1, and when you make $50k per year a hamburger costs $5, and when you make $100k per year a hamburger costs $10.
In the real world everyone pays the same $5 for a hamburger,
A single person making $10k has money left over to buy a little less than 5 hamburgers a day.
A single person making $100k has enough money left over to buy a little more than 43 hamburgers a day.
10 people who make $10k can still only afford 50 hamburgers a day between them after tax, only a little bit more than the guy making $100k.
That's why we have a progressive tax system. We think the guys making $10k should be able to eat and the guy making $100k probably shouldn't eat 8 times as many hamburgers as the guy who makes $10k.
C'mon. I know you're aware that the rates for the tax brackets have changed over time. Surely you know that the top tax bracket was well over 50% for most of the 20th century, and is now lower than that.
- jack-r-abbit 13y agoYes. I'm aware they've come down over time. I would argue they've only been correcting a previous wrong. A 50% tax rate is just ridiculous. So, even if they are lower now than 30 years ago, in the past few years (the time frame I was referring to) tax increases for only higher earners have been put in place. The war has started.