So hit the billionaires extra hard
Reader comment on: Two Really Good Ones on Taxes
in response to reader comment: Good!
Submitted by ben (United States), Sep 16, 2010 12:26
We have a different idea of what middle class is. If I read this right, one can be a tens of millionaire and still be middle class? (albeit "upper-upper")? That is not how I think of middle class at all.
As I have written before, it makes the most sense to tack on additional tax brackets. Perhaps 1-5 million taxes at 50%, 5-50 Million at 60%, over 50 million in income (how many people is that? 1000?) at 80%. Donald Trump once proposed a wealth tax - not sure how that would work, but perhaps that makes more sense than such a reliance on income. What if everyone paid a flat income tax, but people over a certain amount paid a percentage of their wealth (a progressive scale of course)?
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The Future of Capitalism replies:
I'd take a flat income tax, good idea.
Once you get above a certain level -- 60% or 80% is certainly above it -- all you do is encourage evasion and enrich accountants/tax lawyers.
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|ben||Sep 16, 2010 10:28|
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