Anonymous
Anonymous asked in TravelAsia PacificPhilippines · 1 year ago

What rich guy is going to pay 70 percent income tax year after year?

Liberals think there are enough fools like that to pay for their fantasies.

26 Answers

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  • Sally
    Lv 5
    1 year ago

    President Trump because he loves America

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  • 1 year ago

    Nobody ever proposed a 70% income tax. How bout you learn what a MARGINAL tax rate is before posting fool questions?

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  • 1 year ago

    If you put a 70% tax on the rich, who already pay 90% of the taxes in America, how long would it be before every millionaire leaves the country? Liberals are idiots!

    • RICK
      Lv 7
      1 year agoReport

      They won't because that is only on the amount over $10 million
      They didn't leave when they used to have to pay 70% on all income over $200,000
      To say they would leave is right wing lies.

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  • Zirp
    Lv 7
    1 year ago

    Nobody, only those too selfish to spread the wealth to their workers or to charity would come close

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    • Bill
      Lv 7
      1 year agoReport

      Now remember kids, what the left thinks is selfish matters because they will force their view on you too.

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  • Anonymous
    1 year ago

    Anorexia Cortez's proposal might *seem* good on paper.

    But so did communism.

    She says, if you earn $10 million in any one year, ONLY the money above the ten million would be taxed at 70%.

    While that might seem much better than communism, consider that people who earn $100 million rarely ever spend it on consumables or luxury items like yachts.

    The vast majority goes right back into investments.

    Who's better at investing? Govt or business?

    .

  • Bill
    Lv 7
    1 year ago

    I like how liberals think anyone ever paid seventy percent in taxes in the US. What makes it even better is that they think those kind of tax rates don't backfire even if a seventy percent tax rate (yup, it was the same exact rate liberals are proposing in the US) backed on France less than a decade ago.

  • horst
    Lv 4
    1 year ago

    why can't you idiots just figure out what marginal tax rates are? nobody is proposing that you moron.

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    • horst
      Lv 4
      1 year agoReport

      Yeah 70% on income above 5 million dollars. No idea why you people have a problem with that.

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  • Anonymous
    1 year ago

    Reagan’s rich guys did.

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    • 1 year agoReport

      No they didn’t. Just because there was a top tax rate doesn’t mean anybody ever paid it.

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  • What were the tax rates like from 1933 to 1982? Care to look them up? Don't worry, I'll do it for you:

    https://taxfoundation.org/us-federal-individual-in...

    Those tax rates worked for a long time. When we had those tax rates, we developed the atomic bomb, we got out of the Depression, we went to the Moon, we built the infrastructure to its greatest levels, and the middle class was at its strongest. Those rates started going down, and we saw more and more wealth concentrated in the upper classes while society suffered.

    And the best part is that when we look at other countries that still have those rates, they have better education, less crime, better healthcare, better infrastructure, better social programs, etc..., so we know that it works and we know that such taxation doesn't result in chaos or anarchy. In fact, it's quite the opposite. So you tell me, what's the problem? You'll never make more than $10,000,000 per year, so why are you concerned with the taxes of a person who does? They'll never work a 14-hour shift in a foundry or on road construction. Do you think that they care about the living conditions of the people who do?

    EDIT:

    Downvote all you want, but it doesn't change history or reality.

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    • RICK
      Lv 7
      1 year agoReport

      Just like the proposed law
      It would effect less then 1% of the population

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  • 1 year ago

    Nobody would pay it, they would cap income at the 15 or 20 million dollar limit and reinvest in their businesses.

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