As Elon Musk nears trillionaire status, Bernie Sanders and Rashida Tlaib push for a bill to rein in excessive CEO pay. With CEOs making 600 times more than workers, it's time for corporations to pay their fair share.
Make income tax dependent on networth, and Put maximum limit on a person’s net worth. Say, 10 million dollars. Put many more tax brackets out there. The lowest pay no taxes, then the next pay 10, 20%, etc and it goes up and up.
Rich people can pay 50, 60, very rich pay 70-80%, and the richest pay 90, and when you hit the limit, it’s 100% income tax.
This way, no person will ever be extremely rich ever again. There is no human right to extreme networth.
Same for companies, but bigger numbers, say a billion dollar networth. Smaller companies will have it easier, bigger will have it harder
Yeah this is cute and won’t do shit
How about this?
Make income tax dependent on networth, and Put maximum limit on a person’s net worth. Say, 10 million dollars. Put many more tax brackets out there. The lowest pay no taxes, then the next pay 10, 20%, etc and it goes up and up.
Rich people can pay 50, 60, very rich pay 70-80%, and the richest pay 90, and when you hit the limit, it’s 100% income tax.
This way, no person will ever be extremely rich ever again. There is no human right to extreme networth.
Same for companies, but bigger numbers, say a billion dollar networth. Smaller companies will have it easier, bigger will have it harder
On the past the US was the most powerful economically when the tax rate on the top was 95%.