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exelius | 6 years ago

You're really telling me that because you can't become a bazillionaire, you'll have no motivation to make money? You can structure a progressive tax such that the 83% rate only kicks in for income above $10M. Maybe you pay 60% from $1M-$10M. I think that's fair; it leaves plenty of money in your pocket to live a comfortable life well above the means of most people.

Furthermore, your ability to make millions is only possible because of the services provided by government (education, infrastructure, security, financial regulation).

Plenty of people are motivated by much smaller numbers. The average take-home of the top 1% is between $400k and $700k. We're talking about a bigger tax on the 0.1% (>$1M/yr), and a huge tax on the 0.01% (>8M/yr). Again, those brackets are only able to achieve outsized returns because they have educated workers and a stable legal/regulatory system. Because they achieve outsized benefit, they should pay a proportionally higher share.

If those amounts are enough to incentivize 99.99% of the country, and you're still making more than they are, I'm sure you'll survive. If not, someone else will take your place.

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