03-23-2019, 11:42 AM
(03-22-2019, 07:47 PM)TheLeonardLeap Wrote: If you closed off all loopholes and such and it was a straight 70%, it would probably stop working because people would get tired of working for $1m and only coming home with $300k. Or earning $250k and only actually getting $75k.
Meanwhile a house earning $75k get to go home with $75k.
You don't understand how tax brackets work.
Even with a 70% bracket the billionaires would pay the same tax on the first $75K as a person just making $75K.
