Huh?

Reader comment on: Taxes of the Times, III

Submitted by benjamin (United States), Oct 30, 2009 16:27

2.4 million sounds like prospering to me? Also, using one example (from the dying newspaper industry) as an example is hardly illustrative of anything. During this time period, high earners were taking home a higher percentage of their income. The editorial in the Times makes the point that because so many wealthy people were taking home so much additional money because of the lower tax rate, they should pay up now.

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The Future of Capitalism replies:

Well, if you make $2.4 million a year, but the value of your main asset goes from being worth $8 billion to being worth $500 million, you aren't prospering. You've lost $7.5 billion.

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