Thom HartmannJun 2, 2023

Amazing 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

What Happens When You Tax Billionaires at 90 Percent?

We did it before, and the result was the creation of the world’s first and largest middle class and a level of peace and prosperity that held its own until Ronald Reagan took a meat-axe to it…

The Hartmann Report
Show threadsigmaaJun 2, 2023
@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.
Show threadAaronJun 2, 2023
@sigmaa @ThomHartmann Let's do it.
Show threadsigmaaJun 2, 2023
@ThomHartmann @hosford42 let’s not.
Show threadsigmaaJun 2, 2023
@ThomHartmann @hosford42 let’s not do 90% effective rate I mean.
Show threadsigmaa
@ThomHartmann @hosford42 I’m fine with a high marginal rate.
Jun 2, 2023 at 10:34pmToot!
Show threadAaronJun 2, 2023
@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.)