What rich guy is going to pay 70 percent income tax year after year?
Liberals think there are enough fools like that to pay for their fantasies.
- SallyLv 410 months ago
President Trump because he loves America
- WerecowLv 61 year ago
Nobody ever proposed a 70% income tax. How bout you learn what a MARGINAL tax rate is before posting fool questions?
- KinglerLv 51 year ago
If you put a 70% tax on the rich, who already pay 90% of the taxes in America, how long would it be before every millionaire leaves the country? Liberals are idiots!
- ZirpLv 71 year ago
Nobody, only those too selfish to spread the wealth to their workers or to charity would come close
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- Anonymous1 year ago
Anorexia Cortez's proposal might *seem* good on paper.
But so did communism.
She says, if you earn $10 million in any one year, ONLY the money above the ten million would be taxed at 70%.
While that might seem much better than communism, consider that people who earn $100 million rarely ever spend it on consumables or luxury items like yachts.
The vast majority goes right back into investments.
Who's better at investing? Govt or business?
- BillLv 71 year ago
I like how liberals think anyone ever paid seventy percent in taxes in the US. What makes it even better is that they think those kind of tax rates don't backfire even if a seventy percent tax rate (yup, it was the same exact rate liberals are proposing in the US) backed on France less than a decade ago.
- horstLv 41 year ago
why can't you idiots just figure out what marginal tax rates are? nobody is proposing that you moron.
- Anonymous1 year ago
Reagan’s rich guys did.
- 1 year ago
What were the tax rates like from 1933 to 1982? Care to look them up? Don't worry, I'll do it for you:
Those tax rates worked for a long time. When we had those tax rates, we developed the atomic bomb, we got out of the Depression, we went to the Moon, we built the infrastructure to its greatest levels, and the middle class was at its strongest. Those rates started going down, and we saw more and more wealth concentrated in the upper classes while society suffered.
And the best part is that when we look at other countries that still have those rates, they have better education, less crime, better healthcare, better infrastructure, better social programs, etc..., so we know that it works and we know that such taxation doesn't result in chaos or anarchy. In fact, it's quite the opposite. So you tell me, what's the problem? You'll never make more than $10,000,000 per year, so why are you concerned with the taxes of a person who does? They'll never work a 14-hour shift in a foundry or on road construction. Do you think that they care about the living conditions of the people who do?
Downvote all you want, but it doesn't change history or reality.
- JLv 41 year ago
Nobody would pay it, they would cap income at the 15 or 20 million dollar limit and reinvest in their businesses.