Anonymous #1 3w

What income level are you proposing that the 90% kicks in at?

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Anonymous #1 3w

From what I can see by googling it, back then you were taxed 90% if you made 200,000 a year and with inflation thats around 2.5 million a year which would be 2250000 which would leave them with half a mil

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Anonymous OP 3w

Or we could limit these taxes to the 0.01%, targeting billionaires exclusively

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Anonymous OP 3w

Ooh I see. They’d be left with more though because that’s the marginal tax rate. The money they make *over* 200k/year was taxed at 90%. Idk what the tax brackets were back then, but this is how it works rn

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Anonymous OP 3w

Yeah, I’m not defending the top 1% or anything but I think focusing on the top 0.01% first would get far more buy-in

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Anonymous #1 3w

I think focusing on business tax incentives is equally important. Back in those days, the top marginal corporate tax rate was significantly higher and stock buybacks were illegal. Businesses were incentivized to reinvest in themselves for long-term gains. Now the tax rates are low and buybacks are legal, so they’re incentivized to pump up net income as much as possible and perform buybacks for short-term stock gains. Especially since management is compensated with stock options now.

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