Thom HartmannAmazing things happened in America the last time we taxed billionaires at 90%. It’s an incredible story that every American should know!
https://hartmannreport.com/p/what-happens-when-you-tax-billionaires-fa3
ThePdog@ThomHartmann Yes, the top marginal tax bracket can be raised in Congress. But, the accumulated wealth isn't going anywhere and they will continue to buy politicians. Until amendments are passed that overturn Citizens United and that businesses and corporations are not people, politicians will continue to be bought and do the bidding of the wealthy.
Tess@ThomHartmann YAY! Thom Hartman is here! 🙋🏻♀️
Felix Schaumburg@ThomHartmann Gab’s dazu noch mal ne Folge von #wohlstandfüralle? Ich find sie nicht mehr…
Wohlstand für Alle
Wir, Ole Nymoen und Wolfgang M. Schmitt, sprechen wöchentlich über Geld. Jeden Mittwoch behandeln wir in "Wohlstand für Alle" ein Wirtschaftsthema und werfen dabei einen anderen Blick auf ökonomische Zusammenhänge. Impressum: Ole Nymoen Wolfgang Schmitt Podcast GbR Am Schlossgarten 3 56566 Neuwied Umsatzsteueridentifikationsnummer: DE3303228702 E-Mail: [email protected] Konto: Wolfgang M. Schmitt/Ole Nymoen, Betreff: Wohlstand fuer Alle, IBAN: DE67 5745 0120 0130 7996 12
Lily Star@ThomHartmann Everything you hate about America today is because of Reagan. #BetrayedByBoomerHippies
Darth Sandwich 🏳️🌈@ThomHartmann Roosevelt: “Ever since 1776 that struggle has been between two forces. On the one hand, there has been the vast majority of our citizens who believed that the benefits of democracy should be extended and who were willing to pay their fair share to extend them. On the other hand, there has been a small, but powerful group which has fought the extension of those benefits, because it did not want to pay a fair share of their cost.”
Again, we are here again.
author_is_ShrikeTron🔠💉x5@ThomHartmann That era is the "A" the MAGA supposedly want "back".
However , they've been groomed by the ogliarchs to not restore tax levels, and so it's all Sisyphean masturbation thea-tricks. Endless, meaningless fights.
@Ms_Ellen_F@ThomHartmann Excellent!
Thanks.
Thanks.
sigmaa@ThomHartmann we didn’t tax them at 90%…that was the marginal tax rate above a certain income. While I generally agree with it, it’s not the same as a 90% effective tax rate.
Aaron@sigmaa @ThomHartmann Let's do it.
@ThomHartmann @hosford42 let’s not.
@ThomHartmann @hosford42 let’s not do 90% effective rate I mean.
@ThomHartmann @hosford42 I’m fine with a high marginal rate.
@sigmaa @ThomHartmann I'm fine with either, provided it's backed by research or historical precedent that shows it will correct the immense wealth imbalance we are witnessing today, without breaking things. (I don't think either would.)
Riley S. Faelan@ThomHartmann: It's not a uniquely American thing, either. Here, Asianometry investigates a similar pattern in Japan: https://www.youtube.com/watch?v=5_-Ac68FKG4
What Eating the Rich Did For Japan
Prof Prachi Srivastava@ThomHartmann The answer to this can only be, 'good things'.
Kevin RussellLongest economic boom in history.
Wm.sonAnd no one is even asking for 90%!
Kathy E. Gill 🇺🇦At marginal rates? On tens of millions? Hell yeah we should be at 90% marginal rates.
A billion is every second for 32 years. Unfathomable numbers.
I don't disagree, but it can also be something more palatable, like 50 % on anything over 15 million...or 90% on everything over 500 million.
That’s what progressive rates are … tiered.
Tim Greyhavens@ThomHartmann Not 90%, but here’s an example from Seattle of what the scale might be. https://www.king5.com/article/money/washingtons-capital-gains-tax/281-3fe9d8c3-7f89-46a5-ae91-e148a7f31c72
astrid@ThomHartmann i'll keep that ik mind!!
twintootz@ThomHartmann Bravo, dammit
Karl Fogel@ThomHartmann Wasn't that a marginal tax rate? If so, knowing where it kicked in is pretty important for understanding the argument.
Mark MifsudHow about taxing religious instititions / churches as well?
That's a rethorical question of course. I don't need your answer because I already have a fixed opinion on that, nobody will change.
GeofCoxSurely one of the clearest lessons of economic history is that capitalism has only ever worked reasonably well, for some of the world, in the post-world-war-two period roughly 1945-75, when in the aftermath of global destruction we set out to build coherent societies, with welfare states and very, very high levels of redistributive taxation.
In every other period in its history, poorly regulated capitalism has led to criminal exploitation, slavery and colonialism, fascism, war, holocaust.
Roo_44Yes, we can tax billionaires more, but it hurts their feeling.
Joe McTee@ThomHartmann @ianRobinson Excellent article with some cool historical FDR quotes.
My only criticism is that it fails to point out that the 90% rate is a progressive rate. No one is suggesting we take 90% of a billionaire’s assets.
I think the right likes the ambiguity here, as it makes it easier to argue against with folks not really paying attention. There’s a visceral reaction to the thought of taking 90% of anything away from someone. 1/2
@ThomHartmann @ianRobinson Ignoring any deductions, the marginal tax rate for a billionaire under the 90% plan would probably be in the mid-30s as opposed to the sub 10% they currently pay. So not egregious by any means.
So please mention marginal rates in the future to avoid making those poor billionaires look like victims!
2/2
Never be deceived that the rich will allow you to vote away their wealth.
Lucy Parsons
MiMi Agnew@ThomHartmann infrastructure happened big time!
LPS@ThomHartmann
The podcast version is here The Hartmann Report: What Happens When You Tax Billionaires at 90 Percent?
Episode webpage: https://art19.com/shows/the-hartmann-report
Media file: https://dts.podtrac.com/redirect.mp3/rss.art19.com/episodes/d1649373-6047-42ae-b153-a193ca5a5d10.mp3?rss_browser=BAhJIg9BbnRlbm5hUG9kBjoGRVQ%3D--bba5bdd77df5f5806138bf3e7d4615ea7f8e6a75
@JRepin
The Hartmann Report
The Hartmann Report is an independent daily podcast hosted by award winning, author, radio & TV host Thom Hartmann. Thom’s podcast highlights the bigger picture behind politics, science and culture through discussion and debate. Catch Thom’s live show Monday through Friday noon ET / 9am PT- www.thomhartmann.com.