This procedure will result in rich people moving out of America and take their business with them..
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Or shut their businesses and donate money to a charity they control and just drift away in life, they'll not even be providing employment to others anymore..
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And that is not how taxes are supposed to work
And that small amount of wealth transfer results in how much upheaval and people out of jobs? The "rich" don't have money bins sitting around like Scrooge McDuck. FFS, get a clue people.
HEADLINE: Richest person in U.S. now broke, 114,000 workers laid off to cover executive compensation. 12,000 stores closed. DOW drops 2,000 points.
Yeah, that's a great idea; and if you think "we won't allow executive comp... the the richest person in U.S. will be the guy recycling $14,000 a year in beer cans while Mexico and Canada now have 200 billionaires each and U.S. is where the world comes for robotic work force due to infinite college degrees and zero skilled labor.
Also, taxes are supposed to take a fair portion of your income to cover how much of public utilities and services aided in your income. Beyond a point, about 34%, what taxes take is less than what you receive and businesses go where taxes are lower.
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Or shut their businesses and donate money to a charity they control and just drift away in life, they'll not even be providing employment to others anymore..
.
.
And that is not how taxes are supposed to work
Yeah, that's a great idea; and if you think "we won't allow executive comp... the the richest person in U.S. will be the guy recycling $14,000 a year in beer cans while Mexico and Canada now have 200 billionaires each and U.S. is where the world comes for robotic work force due to infinite college degrees and zero skilled labor.
Also, taxes are supposed to take a fair portion of your income to cover how much of public utilities and services aided in your income. Beyond a point, about 34%, what taxes take is less than what you receive and businesses go where taxes are lower.