Dems To NY High Earners: 61.2% Income Tax Is Their Fair Share

Problem is they will still vote liberal in the places they move to and turn them into shitholes as well.

4 Likes

Who cares if it trickles down. It just needs to exist.

Do you think wealthy people produce anything? No? Well every hand that is involved in that production is getting paid. So the more wealth the more for everyone who produces it as well. Who cares if the tiny sliver of it that makes it to the top doesn’t circle after the wealthy get it (It does, but obviously you disagree)

Let me give you a concrete example.

According to google, Walmart is largest company by revenue (at least that’s public) and they are generating 560 billion a year. Only 21 billion of that is profit which is distributed to shareholders. That leaves 539 billion that is being circulated in the economy, a large percentage of which is going directly in the pocket of the workforce (and their suppliers workforce). Out of that 21 billion (3.75%)… Around half are owned by individual shareholders and not institutions/companies/etc. So you’re left with like 10 billion or less than 2% of the economic activity generated by Walmart that actually ends up in the hands of the wealthy… also worth noting that most of the institutional investors employ people and invest money elsewhere (not that you believe in this).

It’s not unusual for 100+ billion dollars worth of economic activity to be produced for that billionaire to just earn 1 billion dollars. So who cares if that 1 billion dollars trickles down or not (it does).

2 Likes

Even 30 is too goddamn high.

barack obama yes GIF by Obama

What about capital gains?

Also, one trick I learned from a very wealth acquaintance is that some wealthy people just take out personal loans backed by their assets. So they pay themselves with these loans without ever generating an “income”. This will create further weath divide.

Kylo Ren wants MORE - YouTube

Insanity - doing the same thing over and over but expecting different results.

And dems fall for it every time.

“Trust us, this time we’ll get it right”, should be the liberal motto.

2 Likes

I pay 50% tax on income…Scandinavia