A Boring Dystopia

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Steve Ballmer is set to make $1 billion a year for doing nothing | CNN Business (edition.cnn.com)

submitted 6 months ago by [email protected] to c/aboringdystopia

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[–] danc4498 45 points 6 months ago (5 children)

This is exactly why you do a progressive tax rate that charges a huge percent (50+) for every penny earned over 20 million.

They can still get these massive bonuses, but get would be better off putting that money into wages that aren’t taxed so much.

[–] overcast5348 21 points 6 months ago (1 children)

50% for 20 million sounds insane to me. I'd be clamoring for 75% or more. I'm in Ontario and people making something like 250000 CAD already have a marginal rate above 50% IIRC. Before anyone calls me a lazy commie, my marginal rate is in the mid 40s already, and I'm happy to do my part.

[–] danc4498 1 points 6 months ago

How do you feel about 37%?

[–] [email protected] 17 points 6 months ago (2 children)

Oh honey, that's so much more conservative than I'd tax. 100% over a million, easy.

They don't deserve huge bonuses so I'm not interested in letting them keep anything that insane. There should be a cap on income based upon the median wage or something IMO.

[–] danc4498 11 points 6 months ago

I’ll meet you in the middle at 75

[–] [email protected] 5 points 6 months ago

I'd back tax them.

[–] Whelks_chance 6 points 6 months ago (2 children)

The UK tax bands will blow your mind.

Like 40% for anything over 50k. Which I'm fine with btw.

https://www.gov.uk/income-tax-rates

[–] [email protected] 7 points 6 months ago (1 children)

None of these people earn their fortunes in a way that is affected by income tax.

They're not taking billions in cold hard cash every year.

[–] Whelks_chance 4 points 6 months ago

Ok, so capital gains tax then. It still kicks in at a fairly early point. Long before you're making millions.

https://www.gov.uk/capital-gains-tax/rates

[–] danc4498 1 points 6 months ago

It’s probably not bad when you factor in healthcare. Especially the middle class that doesn’t get free healthcare but also pays the same as the super wealthy.

[–] [email protected] 1 points 6 months ago (1 children)

We used to have that here in the US.

[–] danc4498 2 points 6 months ago

Thank you Reagan and Bush