If we had a marginal tax rate of 90% on “X” amount of dollars and to avoid that tax rate employers simply “took” less off the top and paid their employees more, invested in better equipment which would create more manufacturing of said equipment and employees would have money to spend on things like houses which would create more demand for houses so they could actually afford them and that demand would create more jobs for people who build houses…
Why do people with a shit ton of money think they need a few tons more of money when they are in fact suffocating the very things that would generate even more money? Is it truly a class thing where the competition to get more and be the top dog is more important than anything else? It would seem to me to be that is the answer. Having power.
I’m not an economist and don’t even play one on TV, but by golly there are a few things, that when you think about them they just seem to make more sense. I think that taxing big earners and taking the “fair” part out and just stating a simple fact would go a lot further in a general day to day earners brain. It’s not about “taking” from the rich. It’s a mechanism to get them to do more.
I get that philanthropists of the world do good things. They do those things to take the spotlight off the ungodly amount of money they have. They have so much they won’t spend it in a hundred years. Makes them look saintly and all. They would still have a shit ton of money if they paid their employees better, perhaps only a turd ton instead of a mega dump of shit.
I don’t care who is rightly accredited with the term “A rising tide lifts all boats” but it’s just plain true. And if a higher marginal tax makes those at the top invest in it’s employees and that’s the only way we can force them to pay it forward? Do it. I think a lot of the negative regarding this is the term of “making them pay their fair share”. Stop saying it. I don’t want the rich to pay more taxes. I want them to pay their employees more.
And the argument that they will have to charge more for a product due to the higher wage? It’s absolute bullshit. They simply make a little less. Simple. That little bit less still nets them a shit ton.
But then we have capitalism. Share holders. The parasites. People who make money off of money. The demand for profit. I don’t know what to say about this...other than it’s absolutely rotting the core of America (and the world).