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Study: Billionaires Paid 91% Tax Rate in 1960, Now they pay 0% (hrnews1.substack.com)

submitted 23 hours ago by peanutbutterandjelly@lemmy.world to c/justpost@lemmy.world

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[–] a_non_monotonic_function@lemmy.world 3 points 17 hours ago (1 children)

We also need capital gains taxed at the same (or greater) rate as income tax.

Can we amend that so the poors are a bit exempt? That could be useful to uplift people.

[–] Rivalarrival@lemmy.today 6 points 16 hours ago* (last edited 16 hours ago) (1 children)

Income tax is already progressive, with "the poors" already exempt. Treating cap gains the same as income tax would exempt "the poors" in the same way.

Taxing cap gains at a lower rate than income is an insult to labor.

[–] a_non_monotonic_function@lemmy.world 1 points 6 hours ago

Income tax is already progressive

Lol. Clearly you aren't in the US, where income tax doesn't mean shit to the wealthy.