this post was submitted on 29 Jul 2023
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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.
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.