The global movement to tax billionaires, much to the dismay of the 1%, is gaining steam. Sure, wealth taxes are not a panacea for the ruinous problems caused by capitalism, but the fact that the rich hate them is a good reason to pursue them further.
Really dishonest to put Elon Musk in the thumbnail. He literally paid the largest tax bill in history, when he could have avoided paying.
You’d damn well hope that the richest person in the world would pay the most tax
But did he pay an equal relative amount compared to the working class?
Must paid less than $100k in taxes in 2015 and 2017, $zero in 2018, and threw a giant hissy fit about paying the paltry 5% or whatever it was that was “the biggest tax bill in history”.
The man has more money than God and can’t fathom paying his fair share.
He made considerably more than 30 billion that year. That number based on the 1/3rd the working class pays.
Taxes on the rich should go back to to 70% they used to be.
There were rich people back then, just like now.
My only quibble is that I think the top marginal rate should go back at least to the 94% it was in 1944, not just 70%. In fact, I’m not sure there is any reason the top marginal rate shouldn’t just be permanently set to 100%, with the only variable being how high that margin is.
Oh I absolutely agree.
I only recalled at the time that it was at one point 70%, couldn’t be arsed to research further at the time for a mere online comment.