NJ5 said:
I have two comments:
1- Reality trumps ideology. I used to be more idealistic when I was young, but I came to learn that this world is too imperfect and complex for ideology alone to guide us.
2- Doesn't the US already have a progressive tax system? From what I read, it does. This means "redistribution of wealth" is already happening. What is there to be so revolted about here?
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Bingo. It's been like this for decades. (during WWII the income tax rate for the top incomes was an astounding 91%)
Still, the realmafoo is definitely right about this (raising it even more) not being a good thing. If you knew that if you got rich, the government would just take your money, why would you bother going through all the work to become rich? In other words, taking a too large percentage of the rich's money will inevitably stifle ambition and by extension bring the nation to its knees. This is exactly what happened in the Soviet Union btw.
Also, just a comment. While it is true that the top whatever-percent of the income earners get a majority of the income in this nation, people often ignore the converse fact: they also pay the majority of the nation's takes:
From wiki:
"the top 0.1% of taxpayers by income pay 17.4% of federal income taxes (earning 9.1% of the income), the top 1% with gross income of $328,049 or more pay 36.9% (earning 19%), the top 5% with gross income of $137,056 or more pay 57.1% (earning 33.4%), and the bottom 50% with gross income of $30,122 or less pay 3.3% (earning 13.4%).
My main point here: the top .1% of income earners earn 9.1% of the national income, yet they pay 17.4% of the income tax revenue. This means they are currently paying twice their fair share. Also, the bottom 50% earn 13.4% of the national income, yet they pay 3.3% of income taxes. (1/4 their fair share) What more do you want from the rich? They are already making it possible for the poor to pay 1/4 what their fair share is.
Conclusion: While I have no problem with the rich paying more than their fair share beause, as has been said, they can afford it, you have to very careful not to make the disparity in tax rates too great or you will risk collapsing your economy a la the Soviet Union in the '80s.