Taxes

[Benton]

(03-22-2019, 11:01 PM)Bengalzona Wrote: But we did have a rate of 70% or more for over 60 years and society (including the wealthy) prospered like no other period in our history. You would think a 70% income tax would cripple wealthy people. But it doesn't. This is because of the difference between income and wealth. A lot of the wealthiest people in our country can still make money even with no income.

Well, that's just greed, and the misinformation campaign to keep it. 

Used to, higher incomes were taxed at a higher rate because the people making those kinds of salaries got what was theirs and left something for the next guy. But since the 70s (ish) it's been more about stockpiling. I think the mega wealthy know it's not going to last, even with the misinformation campaign. It's just a cash grab until then to get as much as you can.