News for hackers. Stuff that matters.

A comment on It's easy to screw up on breaking news. But you have to admit when you do. Parent comment

Re:It's easy to screw up on breaking news. But you have to a... by JumpCrisscross on Friday October 20, 2023 @12:06PM (#37957983)
> wealthy have tons of money for the government to take, but can spend tens of thousands up to millions to shield it so they can't

I used to advocate for doubling all tax brackets. A friend ran the numbers: the result is volatility. The middle class has stable earnings in a way the wealthy do not. That doesn’t mean we can’t tax them more. But there is a trade off.

[ Parent | on HN ]
Re:It's easy to screw up on breaking news. But you have to a... by pc86 on Friday October 20, 2023 @10:25PM (#37963535)
On an individual level maybe but the top two quintiles have made more money year after year regardless: https://www.taxpolicycenter.org/statistics/household-income-...

It's not like the top echelons of earners have a bad year and GDP plummets or anything; I'm not sure what "volatility" means in this context as far as tax revenues but I can't imagine it results in huge variability or uncertainty.

[ Parent | on HN ]