70 percent over 10 million dollars. Same rate under. They are already paying none, so why not raise it? It worked tremedously in the 50s after the depression.
Yes, and some portion of the population has annual income beyond 11 - 20 - 30 million, and they're not going to cede 70% of that. And yes, several of them have exploited tax laws that allow them to minimize their liability, but I don't think you can accurately say they're categorically "paying none."
Are you discussing a 70% hike on corporate income above $10 million? That's what this little factoid would be relevant to.
Dont make over 10 mil, but if i did yeah every dollar over makes zero difference to my lifestyle. What is the difference between 20 billion And 10 million dollars versus 60 billion?
Anyone who makes over 10 million dollars in there second year of doing so they would pay a luxury tax of 70 percent on every dollar over 10 million. Btw are you guys millionaires? Can you pay off my student loans?
Same current rate. You know what i meant. So are you a decamillionaire on here protecting your Interests?
So, James Harden and all the other athletes and entertainers who clear $10+ million a year are paying ZERO tax? Do you realize how asinine that statement is?
Yes, I am, on every dollar I make over 10m that year, I would have to pay 70% - that is how it works, but I am SURE you knew that, right? DD
Lol, stop trolling. Also, athletes would be an exception because their earnings are limited historically based on age. Once they hit a certain age they go from earning millions to zero. They can only earn for 10-15 years. They would continue being taxed at the current rate. Sports millionaires are clearly the only exception.
How is that a troll? You said people making over $10,000,000/year are paying ZERO. Here, I'll refresh your memory: "70 percent over 10 million dollars. Same rate under. They are already paying none, so why not raise it?"
Sure. Or I am someone who wonders why Noone has answered the question about below10mm. To really raise money, they need to get to a bigger pool. Start thinking about a grad student about to make 6 figures and get back to me.
Athletes pay their taxes. They are a minority group in this discussion. Irrelevant to the discussion.
I'm probably out of date, but the first time I saw that "but you knew that" response was on here. My initial and lasting impression was/is what an intellectually lazy take, how smug and a weird nostalgia for neing 5 years old. Keep up the good posting. Consistency is key.
Holy mother of god!!!!!!!!!! A good post from you. I’m so proud of you. I may even tell some of my real life friends and family. You go you!
Don't purposefully turn a blind eye. The proposal won't start and end with 10mm. I guess the argument is the willingness of others to support others funding the public good as long as it doesn't increase their own taxes.
