Davos - Its all about tax avoidance

A 70% tax would not effect many engineers, doctors, lawyers or computer scientists. It only applies on income made past 10MM a year.

If an individual made $10,000,000.00 they would have zero dollars taxed at 70%.
If an individual made $10,000,001.00 they would have one dollar taxed at 70%.

I feel like many of the people that are against this have absolutely no idea how it would work.

 

Philanthropy is a fine thing, and it has produced some fine programs that have actually helped people and our planet. But what percentage of the uber rich actually spend their time and money on programs designed to help? It is, of course, not the law that they must, but I see it as an ethical responsibility. The tax rate proposed in this thread, to me, is just fine. It will not 'hurt' them, and it will go a long way to help others. And should they choose philanthropy, they will see those tax rates diminish dramatically.

I understand people thinking that taxing the rich is wrong and unjust. And that is your right. Just as it is my right to believe that much is expected of those who have been given much.

 

California has the highest poverty rate when factoring in the cost of living, which includes taxes. The small amount the government leaves us to live on, buys less because of the high prices businesses must charge because they are overtaxed as well. The result is a huge gap between the rich and the poor. There is not much of our middle class left.

Its even worse in the bluest part of the bluest state. Los Angeles has a city tax on top of state and federal taxes.

Justifying higher taxes requires ignorance.


FL and TX have no state income tax so the same income provides a much higher quality of life.

 

The only difference would be how that money is spent. How would letting the government decide how to spend it help society. Wouldn't that require ignorance of how the government currently spends?

 

Then you should have no trouble naming one. What would motivate you to work for the government free of charge? Why aren't you doing it now?

 

Who said work for the government free of charge? Oh right you did.

You know anything about wielding power? about prestige? about ego fulfillment? about intellectual expression? about simply loving the action?

 

It must be nice to fly off to Switzerland in your private jet, to lecture the peasants about their carbon footprint.

 

When the fruits of your labor are taken from you, you worked for them free of charge. Why aren't you doing it now?

 

None of them make over 52 million a year in income so that is a silly point. They make it with investments that the income tax would not touch.

 

no you are paying for the opportunity to make more.