[ceedan]

If only we could find some way to raise taxes for people who make so much money that they wouldn't be impacted by those taxes.....

[Ferret7446]

I don't think it's ethical to do something just because the person won't be impacted. That logic would justify a lot of theft.

[ceedan]

So you think that the marginal tax brackets from the 50s are unethical?

[rozap]

Your comment amounts to "no it won't"

Why. We used to have much higher tax rates on the super wealthy. That was when America was doing stuff rather than floundering.

I'd even argue it's in their own interest to have higher taxes. There is no guarantee the current structure of society will continue indefinitely. Without a more reasonable distribution of wealth, we may end up repeating the "let them eat cake" episode.

[SamPatt]

When life becomes more expensive due to taxation (inflation is effectively a tax), I'm very skeptical that the solution is more taxation.

[jjice]

I'm no economist, but it feels like just adjusting the taxation the further up the marginal brackets (even creating more marginal brackets at different increments to make the resolution finer) is what would benefit the majority more.

Whether that has negative effects elsewhere, I have no idea and thank goodness I'm not in charge of that.

[halestock]

You’re arguing that because inflation (which is not a tax) is kinda sorta like a tax, therefore taxation in general isn’t a solution?

[rozap]

Inflation looks a lot like taxation, yes. But assets, the markets for equities, etc rise with inflation. The upper class has most of their net worth in assets/equities, whereas the poorer people are living paycheck to paycheck just buying the essentials each month, and each month those essentials become more expensive. Only one of these groups feels any real impact.

So yes it's a tax but it's a tax on a very specific segment of the population.

[MurkyLabs]

It's less about raising taxes on people making less than 250,000 a year and more on getting people who make over 1,000,000 pay taxes at all. Sure there's plenty of people who aren't rich that commit tax fraud but the IRS is pretty good at getting them. Getting the millionaires who can throw lawyers at them to waste time makes it not worth it. The rich get richer and the poor get poorer