This is where it’s time to revisit why and how the economy fared so well in the USA when high top marginal tax rates incentivized top earners (and business owners) to spend on things that got them something when the alternative was paying 90% on money above the line to be in that bracket.
When that money was spent on higher wages or hiring more people or funding pensions or on research & development, the result was growth and a prosperous middle class. The super-wealthy were still super-wealthy, the major difference was that high top marginal tax rates created incentives for them to spend their money in ways that actually did trickle down
Indeed, “use it or lose it” versus “keep it and we presume you might use it… one day”
Let’s set aside all moral debates about freedom, punishing prosperity, blah blah blah.
There is one very simple and practical reason to tax the rich:
because that’s where all the money is
Conversely there is one simple reason why politicians who hope to get re-elected will never tax the rich.
Because that is where all the money is
Get the special interests and money out of politics and we may have a chance of taxing them.
And the people who don’t have any money keep voting for the people who are the worst about this
74% of it, in fact, concentrated into the hands of the wealthiest 10% of Americans.
If we don’t tax the rich, they will only continue to get richer while everybody else gets poorer and the economy continues to fall apart as we print more and more money to keep everybody paid and it all gets vacuumed up to the top.
It seems like solid economics. We need to keep capital in motion. 10% of the population cannot meaningfully deploy 74% of the capital.
To quote the 1985 movie Brewster’s Millions, it doesn’t count to buy the Hope Diamond for some bimbo as a birthday present.
The calls are growing up so fast, like weeds. /s
We, the wealthy ALREADY pay all of the taxes, lazy poors need to stop complaining! They drive around in fancy cars that they bought with their food stamp money
NOTE TO DOWNVOTERS: @[email protected] is a parody account. Their comments are always a caricature of things wealthy/business people say. They don’t use /s flags to indicate sarcasm. I am not this person, but I’ve seen them comment elsewhere and usually people understand the sarcasm.
People on the lemmyverse are just as stupid as the average redditor it seems
