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osanna@lemmy.vg ⁨6⁩ ⁨days⁩ ago

You can thank reagan for that. Before him, the megawealthy were taxed a LOT (i don’t have exact figures, but it was something like 60%). Then reagan came in with his bullshit “trickle down economy” and that was that.

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turdburglar@piefed.social ⁨6⁩ ⁨days⁩ ago
i mean social security is taxes tho

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- osanna@lemmy.vg ⁨6⁩ ⁨days⁩ ago
  oh, I’m not american and not entirely sure. Thanks for the correction.
  
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Mycatiskai@lemmy.ca ⁨6⁩ ⁨days⁩ ago
There is a cap on social security tax so after you earn past the cap you don’t pay anything extra.

Elon Musk pays the same amount as a person who makes 190k a year.

Take away the cap and social security would be funded forever and a day.

I learned a lot about this by watching Sam Seder talk about SS. It is one of his hot topics.

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