Re:Rejected for a Job at the Container Store
by dllthomas on Wednesday November 12, 2014 @05:07PM
(#8598581)
"How is that fair?"
Flat in dollars is regressive in utility.
"If we taxed the 'rich' at 100%, it wouldn't even pay the federal budget for one year."
Not that I support the policy, but depending on how you define "rich" it might. Per Wolfram Alpha (http://www.wolframalpha.com/input/?i=us+budget+%2F+us+total+...), the US budget is approximately 30% of total US income. That's going to need more than the incomes of the clichéd 1%, but not terribly much more. If you let us borrow the same amount we're currently borrowing (extracting current revenue by taxing the top at 100%: http://www.wolframalpha.com/input/?i=us+tax+revenues+%2F+us+...) that shrinks down to about 10%. Ignoring, of course, the very important point that those people aren't going to keep earning the same way when they don't see any of it.
Flat in dollars is regressive in utility.
"If we taxed the 'rich' at 100%, it wouldn't even pay the federal budget for one year."
Not that I support the policy, but depending on how you define "rich" it might. Per Wolfram Alpha (http://www.wolframalpha.com/input/?i=us+budget+%2F+us+total+...), the US budget is approximately 30% of total US income. That's going to need more than the incomes of the clichéd 1%, but not terribly much more. If you let us borrow the same amount we're currently borrowing (extracting current revenue by taxing the top at 100%: http://www.wolframalpha.com/input/?i=us+tax+revenues+%2F+us+...) that shrinks down to about 10%. Ignoring, of course, the very important point that those people aren't going to keep earning the same way when they don't see any of it.