Tuesday, January 23, 2018

For a 100% income tax

I knew that would get your attention.

A lot of folks forget, or never knew, thanks to the decrepitude of our education system, that back in the fifties, America had a marginal tax rate of over 90%.

America thrived.

Ya, the leadership of the day did a lot of stupid shit, especially on the foreign policy side, but at least from the perspective of a working class schmuck, America was great.

Whether you were local or up from the South or fresh off the boat, jobs were plentiful.

You'd buy a house and have a life, and you never gave a thought to the big picture, where crop after crop of newly minted MBAs were figuring out how to profit from your imminent disembowelment.

At this point, that's all water under the bridge... or bridge under the water.

Point is, this is where we're at.

As gratifying as it may be to see folks marching against Trump, what are they marching towards?

The Democratic Party?

God forbid.

In the interest of bringing wealth inequality back to earth, a graduated income tax should hit 100% eventually. Where you call that is always going to be somewhat arbitrary.

$100,000 a year? No, way too low.

$500,000 a year? A million? Ten million?

How much money do you need to live a decent life as a rich person?

Does it have to be a thousand times more than a poor person lives on?

No, it doesn't.

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