If a person who makes 20 million is taxed at 50%, they still have 10 million, while If a person who makes 40 k is taxed at 30%, they only bring home 29k. Taxing the rich at a higher rate removes some of the burden of those who can’t really afford it. There’s literally no reason why the mega millionaires can’t be taxed at a higher percent
Sassy, i understand your point. What you're considering is an envy driven redistribution of wealth and to be honest, it would probably have some immediate positive effects. The problem lies in the future.
.
If it started to look like Warren's plan were going to be implemented, the wealthy would immediately begin moving their money out of the United States. That abrupt removal of capital from an economy would absolutely gut businesses. Every stock, mutual fund and 401k would crash. Companies would be instantly thrust into a cash flow save mode and people would loose their jobs at an unprecedented rate.
.
I assure you that Warren knows this and that she would never actually implement something like this. It's pure envy based propaganda. She's lying to everyone and the bulk of americans know it. That is why her support is falling.
I support the envy based economic destruction of America. Vote me 2020 and I'll rebuild us from the ashes of the upcoming nuclear war I'll start when we run out of money
Also, what is the incentive to work hard to make more money if more of it is going to be taken. Is it worth working so much harder to only make like 10-20k more per year after the huge taxes you just got for working hard
That question assumes hard work is what results in increased income. You aren’t paid for what you do, you are paid for how hard you are to replace. The people who work the hardest are rarely the ones that make the most money.
Agreed up to a certain point. Career ladder climbing doesn’t result in the level of wealth referenced in this post. That requires a different path, and a large helping of advantages mixed with luck.
People that are really good at a low level job and work extra hard at it don't tend to go any higher and just get a tiny bit of extra pay because it would be bad for business to not have them working so hard in the low level job. The ones that get promoted are the ones they can afford to replace that also are assumed to at least be capable of doing the promoted job
Yea a 50 cent raise or a 2 dollar raise isn't going to get you 10-20k extra a year even if you are working 8 hours a day 5 days a week. That'll be like 1 to 2k at best and the difference between broke and 5% less broke isn't much
It’s funny because I’m making what was my dream salary when I went to school. Thinking through numbers, I believe 10-20k will definitely be motivating for a long time. I’m not sure I will ever get to a salary of 200k+ (where 10k falls below 5%, which is the kind of raise that tells me I’m doing a good job).
From my experience as both an employee and a manager I have found that people want to make about 10% more than they do. How much they make doesn’t factor in much.
Also, the point shouldn't be to take away from the rich, it should be to make the poor richer. Warren's plans don't actually address that in a real way.
.
If it started to look like Warren's plan were going to be implemented, the wealthy would immediately begin moving their money out of the United States. That abrupt removal of capital from an economy would absolutely gut businesses. Every stock, mutual fund and 401k would crash. Companies would be instantly thrust into a cash flow save mode and people would loose their jobs at an unprecedented rate.
.
I assure you that Warren knows this and that she would never actually implement something like this. It's pure envy based propaganda. She's lying to everyone and the bulk of americans know it. That is why her support is falling.