Large numbers of people don't understand what a billionaire is.
If you, like most of us, ONLY make $1 million a year, it would take you 1,000 years to make $1 billion.
Or, if REALLY lie most of us, you make $50,000 a year, it would take you 20,000 years.
TWENTY THOUSAND YEARS!
If you tax someone who makes a billion a year at a 90% top rate, they would "only" take home $100 million a year.
@dcjohnson you’re conflating wealth with income. Very few billionaires “earn” $1B per year. Mostly they make it through wealth accumulation/inflation.
Tax all WEALTH over $1B at 90%/year, and there will be no more billionaires. They can still earn obscene amounts, still build obscene amounts of wealth, but they have to actually DO something with the excess excess. Maybe then it will actually “trickle down.”
And tax INCOME over $10M/year (all sources) at 90%, too, no deductions.
Dave Johnson
ehurtley 