For most people, passive income is a bit of extra pocket change that requires minimal effort to earn to supplement a main source of income. For Steve Ballmer, it’s $1 billion.
That’s 100k for those in the back. Really puts this greed into perspective, there is absolutely no reason for any individual to be hoarding this much money. For many people that would literally be life changing
50% for 20 million sounds insane to me. I’d be clamoring for 75% or more. I’m in Ontario and people making something like 250000 CAD already have a marginal rate above 50% IIRC. Before anyone calls me a lazy commie, my marginal rate is in the mid 40s already, and I’m happy to do my part.
Oh honey, that’s so much more conservative than I’d tax. 100% over a million, easy.
They don’t deserve huge bonuses so I’m not interested in letting them keep anything that insane. There should be a cap on income based upon the median wage or something IMO.
It’s probably not bad when you factor in healthcare. Especially the middle class that doesn’t get free healthcare but also pays the same as the super wealthy.
Anybody else think there should be a money limit? Like at a certain point you get a message: Congratulations, you completed capitalism. Now every additional cent you make is going to be taxed at 100%
That’s a great salary even if divided between 10,000 people.
Fuck billionaires, leeches
That’s 100k for those in the back. Really puts this greed into perspective, there is absolutely no reason for any individual to be hoarding this much money. For many people that would literally be life changing
It’s a mental disorder, similar to hoarding, and they all need psychological help.
And the saddest thing about it is that a lot of people admire it.
Loads of people admire people with anorexia and bulimia, doesn’t change that there is something wrong with their brain.
If you want to stretch it a little further, this would be enough to very comfortably support just shy of 74,000 students in Australia per year.
That’s roughly an extra third of what our government offers right now.
This is exactly why you do a progressive tax rate that charges a huge percent (50+) for every penny earned over 20 million.
They can still get these massive bonuses, but get would be better off putting that money into wages that aren’t taxed so much.
50% for 20 million sounds insane to me. I’d be clamoring for 75% or more. I’m in Ontario and people making something like 250000 CAD already have a marginal rate above 50% IIRC. Before anyone calls me a lazy commie, my marginal rate is in the mid 40s already, and I’m happy to do my part.
How do you feel about 37%?
Oh honey, that’s so much more conservative than I’d tax. 100% over a million, easy.
They don’t deserve huge bonuses so I’m not interested in letting them keep anything that insane. There should be a cap on income based upon the median wage or something IMO.
I’ll meet you in the middle at 75
I’d back tax them.
The UK tax bands will blow your mind.
Like 40% for anything over 50k. Which I’m fine with btw.
https://www.gov.uk/income-tax-rates
None of these people earn their fortunes in a way that is affected by income tax.
They’re not taking billions in cold hard cash every year.
Ok, so capital gains tax then. It still kicks in at a fairly early point. Long before you’re making millions.
https://www.gov.uk/capital-gains-tax/rates
It’s probably not bad when you factor in healthcare. Especially the middle class that doesn’t get free healthcare but also pays the same as the super wealthy.
We used to have that here in the US.
Thank you Reagan and Bush
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Anybody else think there should be a money limit? Like at a certain point you get a message: Congratulations, you completed capitalism. Now every additional cent you make is going to be taxed at 100%
Oh absolutely, if we aren’t replacing capitalism we need to install hard limits.