Comment on How would you actually tax the ultra wealthy?
crwth@piefed.zip 3 days agoSo someone with an income of $1M (20A) has a tax liability of $2M, and earning $10M means you owe $200M? At least with traditional tax brackets, it’s hard (but not impossible) to accidently get marginal rates over 100%.
AstroLightz@lemmy.world 2 days ago
Yeah, there’s probably a better set of formulas to use.
The main idea behind my idea is that people who make more pay more, whereas people who make less pay less. Additionally, those who don’t make money pay no tax as it works out mathematically.