70% tax rate Yes or No?

>over a million a year
What is this arbitrary number and where the fuck did it come from?

nerdwallet.com/blog/taxes/federal-income-tax-brackets/

We tried super-high taxes in the 70s. Many other nations have tried it too. It doesn't work.
>Inb4 the Nordic model
AFAIK their tax rates aren't nearly that had, plus oil, plus a homogeneous population (well, until recently).
Also, not all wealthy people are (((those people))), and a rich capitalist is a great asset to a nation. Tax the rich to death and they'll just flee abroad (actually or on paper), and you won't pull anyone out of poverty. I say again: it's been tried.

>a rich capitalist is an asset
Even Soros?

Tax only jews and ill take it

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>hit 70% bracket
>stop working

It still wouldn't fix anything.

In fact it might just make things worse thanks to globalism.

Globalism has made it really easy for the wealthy to move money, businesses, and wealth overseas.

So, if they Introduce this they will without a doubt do the following:

>Fire people to compensate for money they lost
>Raise prices to compensate for money they lost
>Move business overseas which means less jobs and less income for the government

There you have it.

To all of you who say it's bullshit because it didn't happen before

GLOBALISM WASNT AS BIG BACK IN THE GOOD OLD DAYS.

Taxes are generally a good thing
If you work more or own more you are certainly capable of paying more in tax so that your fellow men can raise their standard of living.
This is part of why the nordic model worked, it was fair so those at the bottom rung were content because they could live well even if they didnt make all that much.

The problem that this gives rise to is what happens when the money doesnt go to better the lives of your fellow man? what if it goes to feminist period marketing projects and somali migrants having 14 kids?

Taxes are more complex than just a "yes/no" question

>needs of the few to amass unlimited sums of money trump the needs of the many to have a livable wage
you're just cucking yourself at this point, especially since government has to subsidize these wagies with food stamps or benefits

No . Refer to first post. Also this is a proposed income tax. Not a tax on investors. Not a tax on holdings. It only serves to eliminate any new competition to the wealthy. It's super fucking stupid because if you want to see real trickle down economics, start stealing from the big earners and see what they do.

not ancap or anything, but don't be stupid, if you tax these niggers at 70% they'll just offshore their money.

Did you miss the first part of that sentence? OK: "a rich capitalist *who isn't one of (((them)))* is a great asset to a nation".

Yes, we once had high marginal tax rates and none of the doomsday predictions came true.

"The best way to control the opposition is to lead it ourselves."

>implying (((they))) pay taxes

100% bullshit neo-liberal talking points.

The Republican base is the same way.

For the rich moving countries is no different to you moving to another town for work, tax them too much and they will leave taking the jobs with them, lower taxes on everyone is more productive.

it's a (((slippery slope)))
>raise taxes on high earners to 70%
>spend all the money on gibs in about a week
what now? guess we'd better raise that tax again? how about 90%? or maybe we should tax more people and make them pay their share too?

They are just going to evade it.

First you apply capital control, then you tax the rich.
Announcing you're going to tax them before being able to apply capital control is retarded too, the moment AOC gets an even slight possibility of winning they'll flee immediately.

The thing is people are brainwashed thinking neo-liberalism is the only economical doctrine.

Wrong. The only reason they are allowed to leave the US and set up factories elsewhere is because the government allows them to ship their products back here untaxed.
If the government was serious about taxing them, it could also institute capital controls.

The government is able to prevent Iran from doing business with non-Iranian companies because that is a policy goal. If it were a policy goal to prevent the hyperwealthy from setting up shop elsewhere it could easily sanction them.

There is a demand for dollars in every country in the world, and the US Treasury can prevent selected people from using the banking system.

There is literally no excuse for them not to raise marginal tax rates, or figure capital gains and dividends as regular income.

It's a real cancer, they even teach Ayn Rand in public schools now.

That would mean Jews wouldn't it?

We already have it and it is fucking retarded.

this would be a great strategy if you want to accelerate de-dollarization and end the jewish central bank monopoly over fiat currency creation. i like it!

taxes can be used SO well to make a superpower. shame that many world leaders dont care and just put tax on everything mindlessly

Taxes only apply to income (((they're))) money is old wealth and not subject to income tax. All high income tax does is keep people from moving up the economic ladder.

Taxes apply to whatever the fuck government want them to apply.