It wouldn't raise enough money. Probably better to say: "Tax the multi-millionaires", or even people who earn more than 1M USD per year.
What if we change the tax code such that passive income (capital gains, dividends, coupon payments, etc.) is taxed at a higher rate than active (employment) income?
> What if we change the tax code such that passive income (capital gains, dividends, coupon payments, etc.) is taxed at a higher rate than active (employment) income?
Doing so by lowering the active income rate wouldn't raise more money, and doing so by raising the passive income rate would kill investment and job creation and send us into a depression.
throwaway2037|11 months ago
What if we change the tax code such that passive income (capital gains, dividends, coupon payments, etc.) is taxed at a higher rate than active (employment) income?
josephcsible|11 months ago
Doing so by lowering the active income rate wouldn't raise more money, and doing so by raising the passive income rate would kill investment and job creation and send us into a depression.