this post was submitted on 29 Jul 2023
475 points (91.2% liked)

Memes

45895 readers
1252 users here now

Rules:

  1. Be civil and nice.
  2. Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.

founded 5 years ago
MODERATORS
 
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 3 points 1 year ago (1 children)

That takes something from being completely unreasonable to be understandable.

Why would taxing a gross income of above a billion US$ by ~66% be "completely unreasonable"? Imo taxes for such incomes should generally be higher if anything.

[–] nogooduser 3 points 1 year ago (1 children)

Because that’s not how it works. It would be great if that was how it worked for all billionaires but it isn’t.

Taxing 66% of the winnings of someone who was previously not wealthy is unreasonable if you don’t also tax other rich people at the same rate.

[–] [email protected] 1 points 1 year ago

Yeah, obviously that should go for everyone. I realize it's currently not very realistic in most countries, but I maintain that it would be reasonable. It's also not without precedent, even the extremely capitalist US had top income taxes of above 90% from the mid-40s to the early 60s.

Source: https://en.wikipedia.org/wiki/File:Historical_Income_Tax_Rates_and_brackets.png