Gregory's Server@rbreich We should go back to the 1946 tax rate for millionaires where it is 91% after $200k. Maybe update it to 91% after $1 billion. Tax rates were like that until Reagan and "trickle-down" economics.
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15 comments
  @Stefan_S_from_H @pyager @rbreich Unlimited Free Speech isnt. Democracy is a marketplace of ideas Markets arent evil capitalism is Unrestricted lying as speech without consequences renders democracy impossible. @Stefan_S_from_H @rticks @rbreich In the U.S. it is unconstitutional to restrict someone's speech even if they are rich. Even without that, I think free speech is important for a functioning democracy. @rticks @Stefan_S_from_H @rbreich I think the problem isn't the U.S. Constitution or any constitution. That isn't the cause of unbridled capitalism or the fact the right is relying on lies and misinformation more and more. Democracy is the way to bridal capitalism and to set things right in a peaceful way. Walking away from democracy is not the way to a better society. Reference any tin-pot dictatorship for proof. @pyager @Stefan_S_from_H @rbreich The rules are rigged towards rural power, towards aristocracy and towards capitalism The 1789 constitution has outlived its usefulness. It cannot be patched anymore. It MUST be replaced and safeguards against Capitalism, Billionares, Fascism, Republicanism and every other ism the right stands for  @pyager @rticks @Stefan_S_from_H @rbreich Yes. More democracy, organize democracy, teach democracy, organize people to have more power, democratically. And dump the fillibuster which is not invited to any party the constitution is going to. @Stefan_S_from_H @rbreich That's a good point. A billionaire/millionaire business owner can decide to take a $1 salary. We do need a true wealth tax, even if that wealth is coming from investments or stocks. @pyager @rbreich I think setting the cutoff for 91% tax rates at $1B is far too high, too. You could probably not hurt many people if you set that rate at anything over $250k. You could safely set an income tax rate of 100% for any income over, say, $500k. At that point, the person will have earned $500k in one year, and only any marginal income above the first $500k they earn would be taxed at that rate. Eisenhower, Republican President after Truman kept most of Roosevelt's, Truman's tax levels, when asked why, said words to the effect, "Lazy money, We only tax lazy money. Upgrade your factory, invest in your business and we dont." But really, that was before a handfull of men started owning almost all of it. We need strong, robust, fair, taxation of wealth. |
@pyager @rbreich agree, but we also need to tax their accumulated wealth as well. Second and third and fourth homes, any nonresidential real property they own, any luxury vehicles (yachts, etc) that they own...