Is there a legit reason that the wealthiest people should not be heavily taxed?

Is there a legit reason that the wealthiest people should not be heavily taxed?

The top marginal rate in America is currently 39.6% when it has been over 90% in the past, but a reasonable rate would probably be 70%. And no, that does not mean that you give up 70% of your total income, just on income OVER 418,000$, everything below that is taxed at a lower rate, plus you get deductions which are not taxed at all.

Additionally most of the wealthiest people make most of their money on investments which are only taxed at a ridiculously low rate of 15% no matter how much money you make. This needs to be raised at least to the level of income tax if you are making over 100,000$ on investments.

Economically this makes sense as extremely wealthy people don't spend the majority of their income anyway. We could use the money to fund education, healthcare and infrastructure which would actually help make America Great Again. As the saying goes, Build a school tear down a prison.

The wealthy are still going to be wealthy, they will have no problem with that. But everyone including the wealthy will live in a better society.

Even Steve Bannon wants to do this:
axios.com/scoop-bannon-pushes-tax-hike-for-wealthy-2452197801.html

Taxing the wealthy is the purest form of jealousy

Success is based on incentive

>Sup Forums claims to dislike jews
>Sup Forums also sucks up to wealthy jewish bankers
????

The rich will always pay as much (or rather as little) in taxes as they are willing to pay, no law will ever change that.

The wealthy are wealthy because we make them wealthy
If we want them as poor as us then just don't buy their shit
But if they offer something a society can't live without because of convenience then they deserve to make big bucks
Go out and make yourself rich everyone is capable of it in america

If the wealthy now pay an average of around 20%, and the poor pay an average of 0%, where are you going with this?

then the rich are dependent on a functioning society to make their money

they need an educated, healthy and safe society to become wealthy (I don't see too many billionaires in Somalia)

So Isn't it fair for them to pay back to the society that made them rich? To maybe help the next generation that will also produce wealthy people?

Why should the state take more from them? What do they owe the state?

Investments are capital gains and 30+ percent. This is fake. Sage

This
...
>Makes 90k a year, 60k after tax
>10k raise
>Now make 100k a year, 50k after tax

Way to keep people out of upper middle class

wealthy people actually use a far greater amount of government services,

Think about the CEO of Wallmart or any large business, they need a large country full of educated, healthy people in order for their stores to operate, they need roads all over the country otherwise they could not make their money

this is why they owe the state

For starters, you could tax the rich at 90% and it would hardly make a dent in our fiscal problems.

that is not how a marginal tax rate ever works, you only pay the higher rate on income over a set amount, all income below that amount is taxed at a lower rate

you are never going to keep less after tax income because your income went up

>Think about the CEO of Wallmart or any large business, they need a large country full of educated, healthy people in order for their stores to operate, they need roads all over the country otherwise they could not make their money
Wallmart is a publicly traded company. Therefore, many in the middle class effectively own Wallmart.

ok?

Only the people who are making a large amount of money off the company should pay the higher rate

> American education

Why are there so many stupid people thinking that the system would literally tax you more on the entire fucking sum instead of only the amount that exceeds the treshold?

Unbelievable.

>Economically this makes sense as extremely wealthy people don't spend the majority of their income anyway.
THEY DO.
The idea that wealthy people sit on their pile of money, doing nothing with it, is conpletely fabricated. Wealthy people invest more, creating new businesses and jobs, and also donate more (in % of their total income) to charity.

>Only the people who are making a large amount of money off the company should pay the higher rate
They do, its called capital gains.

>Is there a legit reason that the wealthiest people should not be heavily taxed?
Better off with the rich than with niggers.

You want to fix modern taxes? Fix the people at the bottom.

The tax rates for those that make under 70K are not bad and the tax rates for those over 300 should probably stay the same. The problems in the 70-300K. This is because most small businesses are S corps or Limited Liability and their business income forces them to pay more than they should. This in turn stifles small business growth and expansion.

>h-hey guys! Let's tax the rich at 90%
>oh noes! the rich are hiding their money in offshore bank accounts. wat do?
Just tax everyone fairly and this shit wouldn't happen.

you don't know what you're talking about

>the rich need to pay their fair share
the rich are paying all the fucking taxes you brain dead niBBa.

Everybody should have the same skin in the game.

> flat tax no deductions

Then you should only tax what you want to pay for. I bet government would get small quick. This is the only peaceful solution in a post boomer world.