That’s just punishing people at the top of the working class. Doctors, lawyers, etc.
Nope. First of all taxes are not “punishment”. Right wing propagandists use that word because they never get common sense feedback from ordinary people who immediately notice how ridiculous that word sounds. 2nd, nobody is pushing for a 91% top rank on doctors and lawyers. It is what we need for billionaire elites. And actually I think that the top rate of 75% we had before Reagan would be fine.
The truly rich would be fine. They don’t pay income tax, they live off of capital gains.
Income taxes consists of taxes on earned income and unearned income (e.g. capital gains). Billionaires do not earn their income so yes most of their income is “unearned income”. When we set the rate for billionaires we need not distinguish between earned income and unearned income.
Then they should not be objecting at all if we raise the top income tax rate back to 91% like it was in the 1950’s when we had a great economy.
The truly rich would be fine. They don’t pay income tax, they live off of capital gains.
That’s just punishing people at the top of the working class. Doctors, lawyers, etc.
Nope. First of all taxes are not “punishment”. Right wing propagandists use that word because they never get common sense feedback from ordinary people who immediately notice how ridiculous that word sounds. 2nd, nobody is pushing for a 91% top rank on doctors and lawyers. It is what we need for billionaire elites. And actually I think that the top rate of 75% we had before Reagan would be fine.
Income taxes consists of taxes on earned income and unearned income (e.g. capital gains). Billionaires do not earn their income so yes most of their income is “unearned income”. When we set the rate for billionaires we need not distinguish between earned income and unearned income.