Dave JohnsonMay 18, 2023

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.

#billionaires #taxes

Show threadEarthling

@dcjohnson

If I am not mistaken, the 90% tax rate already existed once in the US.

May 19, 2023 at 12:39amWeb
Show threadDave JohnsonMay 19, 2023

@Raven47 Yes it did, for quite a while. And corporate tax rate was 50%.

Lowering those bred inequality, and the quick-buck business model.

#taxes

Show threadEarthlingMay 20, 2023
@dcjohnson
After almost 5000 years of male dominant violent rule, one war after the other (patriarchy), humanity is riding on a train towards extinction. Higher taxes for the rich would give the government money to improve the railway wagons of the poor, certainly a welcomed short term help. But it is necessary to stop the train and then to head in a new direction! It is necessary to replace the current patriarchal rule with total democracy, i.e. not only in politics but also in the economy.
Show threadDave JohnsonMay 20, 2023

@Raven47
Riane Eisler has been writing about male domination as a core of politics. Worth looking at.

Second point, agree but that isn't what money is. Govt spends money into the economy, doesn't get "revenue" from taxes.