General Discussion
In reply to the discussion: No one in the world should have a net worth of a billion dollars. No one. [View all]salib
(2,116 posts)You and I will never pay that, as it is the top marginal rate. In fact, it leaves room for lowering the tax rate on work and raising it on sitting on your ass waiting for the dividend check to arrive, err, capital gains.
Yes, raise it on capital gains. Yes.
The one thing that we have as the 99% is our labor, our effort, our creativity, out artistry. What the one percent have is control of (our, i.e. everyone's) money. They have control over vast sums of money to invest. Thus, that is precisely what should be taxed. Not as high as hoarding it (top marginal rate) but higher than income from work.
Forget the right-wing canards about high-taxes means low growth or negative growth, or some such bogeyman. Forget the ones about capital gains should be lower to encourage investment, blah, blah, blah. Don't even bother with arguing.
The history is there to look at. In the U.S., as an example. In the 20th, 19th, even now the 21st Centuries. Excessive wealth ==> economic bubble and crash, terrible misery for the 99%, etc.
Time to stop the B.S. arguments from the right. They are the age old endeavor to try to assign some sort of moral or other value to Greed. That is all.
Argue if you want, just means I will put out a new post on that "point". Not gonna argue.
We just need to do it.