After taxing the “rich” at 100% what next
We have a spending problem not a taxing problem
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2 Responses to After taxing the “rich” at 100% what next
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How about taxing the rich at the same rate as us working guys rather than less?
Great to see that VonReisling misses the entire point.
1. The “rich” guys would love to be taxed at the same income tax rate. That would be a tax cut for them. What you are confusing is the tax rate on investment income as compared in earned income. Guess what? They already paid a higher tax rate on the earned income. Investments don\’t always pay off. Some times you earn profits on investments and sometimes you have losses. To encourage investments in that risks you don\’t want to make it such that it makes no economic sense to not pull your money out from under the mattress.
But I guess you don’t want to let class warfare and envy get in your way.
Also, the point of the video is not that we are collectively or individually taxed to little but that we could tax everyone on the planet at 100% and still not cover the debt.
The answer is simple. STOP the SPENDING