Like, after a certain point for ever $100 you were paid, the government took $92 and left you with $8 and your other deductions.
It’s honestly that easy to change, just bring back the same tax brackets we had under Eisenhower and we’d pretty much fix the income gap immediately. Or at least we’d have plenty of tax revenue to fix shit and provide safety nets.
It’s insane like we act like we can’t figure out a solution, when we already had one 60 years ago…
Sadly, not that easy, since “income” no longer accounts for the huge wealth gap. Until stocks and assets are counted and taxed appropriately, the top 0.1% will remain just as wealthy.
The top tax bracket used to be 92%…
Like, after a certain point for ever $100 you were paid, the government took $92 and left you with $8 and your other deductions.
It’s honestly that easy to change, just bring back the same tax brackets we had under Eisenhower and we’d pretty much fix the income gap immediately. Or at least we’d have plenty of tax revenue to fix shit and provide safety nets.
It’s insane like we act like we can’t figure out a solution, when we already had one 60 years ago…
Sadly, not that easy, since “income” no longer accounts for the huge wealth gap. Until stocks and assets are counted and taxed appropriately, the top 0.1% will remain just as wealthy.
It might work on parts of the 1% to 0.1%, though.
It’s crazy that income tax goes up as you earn more, meanwhile capital gains tax goes down as you gain access to more loopholes.
That’s because the whole system is about as crooked as the stock market
cough cough tax capital gains as income cough
As someone who makes most of their money through capital gains, I’m in favor of taxing them more.
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