How the taxes on the wealthy have fallen over the past 70 years (USA)

submitted by magnora7 from (giant.gfycat.com)

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[–]Butttcandy 3 insightful - 3 fun3 insightful - 2 fun4 insightful - 3 fun -  (3 children)

Yup when AOC and Bernie talk about taxing the rich, they are talking about the old tax models when America was thriving. No cap. Make America great again

[–]magnora7[S] 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (2 children)

I agree, we need 90% tax rates on anyone earning more than 10 million a year, like we had in the 1950s. It would help so much. But now the tax rate is lower than ever, billionaires can afford more lawyers to find more loopholes.

[–]happysmash27 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

I would prefer encouraging private donations so one would not need to go through the bureaucratic nightmare taxes are for some people, but that requires a societal change before a political one, in my opinion.

[–]magnora7[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

America already has the highest private donation rate of any country in the world, per capita. I think we need something a little more structured because greedy people won't voluntarily give, and greedy people overwhelmingly make up the billionaire class.