Some dude I work with said “man, if they start taxing Bezos more, at what point are they gonna come after me?”
Maybe when you start making billions of dollars? Fuckin idiot
They’re right tho, millionaires are way more protected by government than the average person
Edit: I didn’t realize it said you would be taxed 70% on income above 10 million, I was thinking it was 70% of 10 million. Yeah 10 million (or 6.5 after normal taxes) in one year is plenty.
I think America is fueled by the dream of “making it big”. I believe we should all have that opportunity and so I think these income taxes should take effect on the second year that your income exceeds the threshold, but that you should pay a lower rate for the first year. People invent things, they write stories, make movies, win at gambling… Those people should be allowed to enjoy their success, not be punished because their payout came all in the same year.
Yeah for some poor sod who wins the lottery, publishes his banger novel and gets his oscar worthy multi million dollar movie into cinema and therefore gets an income above 10 million $ that year, I don’t think he will be signficantly hurt paying 70 % tax on everything above those 10 million $.
Friendly reminder that the difference between a million dollars and a billion dollars is still essentially one billion dollars. Billionaires shouldn’t exist
A 70% tax rate is insane. All that will do is incentivize taking money out of the country or cheating and lying and hiding all that money (even worse than now) I think a reasonable rate is around 20% or 30% and taxes should be structured where the people who make the least pay the least
It’s not “insane” it’s lerfectly feasable. It used to be at 63%:
https://taxfoundation.org/data/all/federal/historical-income-tax-rates-brackets/
In fact it was changed from 25% to 63% in 1932
