NoCoPilot
Posts : 21124
Join date : 2013-01-16
Age : 70
Location : Seattle
 | | Subject: Progressive Tax Rate Sat Feb 09, 2019 1:20 pm | |
| Where your first income is taxed like everybody else's, but once you reach the stratosphere of income the higher dollars are taxed at higher and higher rates. Most successful democracies have operated like this -- including ours, a generation ago. A lot of misconceptions are thrown around. Nevertheless, this'll be coming up a lot in the 2020 election after seeing what one multimillionaire has done to the economy, and the idea is popular with the majority of voters. Here's a pretty good summary -- despite the headline, it makes a pretty good case for progressive taxation by pretending to be against it.
Last edited by NoCoPilot on Sun Feb 10, 2019 3:32 pm; edited 1 time in total |
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NoCoPilot
Posts : 21124
Join date : 2013-01-16
Age : 70
Location : Seattle
| | Subject: Re: Progressive Tax Rate Sun Feb 10, 2019 3:30 pm | |
| And there's even a radical proposal -- which doesn't seem so radical once you start looking into it -- to abolish billionaires. All 2,200 of them. The world doesn't need that much wealth in any one person's hands. I can even think of a few billionaires who'd agree with that. Compulsory philanthropy. |
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