421
Billionaires should not exist.
(lemmy.world)
cross-posted from: https://lemmy.world/post/13165402
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this post was submitted on 16 Mar 2024
421 points (94.5% liked)
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Yeah almost every income tax barely applies to the wealthy, on all of these. They don’t make their income from paychecks, they make it from capital gains. And capital gains taxes are laughably low across the board. The billionaires and incredibly highly wealthy will laugh all the way to the bank as they vote for higher income tax brackets, as long as the capital gains taxes stay low. Granted they are far higher in every nation outside the US, but still not high enough, and capital gains should have its own set of tax brackets