General Discussion

hay rick

(7,611 posts)

26. 101%.

Tue Jan 22, 2013, 01:05 PM

Jan 2013

Beyond a certain point, 100% plus shipping and handling. Incomes beyond a certain point are not earned in any meaningful sense- think of John Paulson betting against Goldman CDOs that he helped design.

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What should be the highest income tax rate in the US? [View all] el_bryanto Jan 2013 OP

When an individual is increasing his/her net worth by billions annually, they can afford a much .... Scuba Jan 2013 #1

Exactly! A braking mechanism must be in place for a capitalistic economy to RKP5637 Jan 2013 #11

Lets not overdo the hyperbolie... brooklynite Jan 2013 #20

No hyperbole ... Scuba Jan 2013 #32

I think you'll find... brooklynite Jan 2013 #36

I thought this thread was about future tax law. Scuba Jan 2013 #41

What we really need is an income cap. bemildred Jan 2013 #2

What negative consequences might come from an income tax? n/t el_bryanto Jan 2013 #3

Perhaps if you elaborated on your question, I could figure out how to respond? bemildred Jan 2013 #6

Sorry - i mean to say income cap el_bryanto Jan 2013 #7

You want people who work hard to do well, really well, so you set it high, really high. bemildred Jan 2013 #13

I suppose it depends on where you set it el_bryanto Jan 2013 #15

COLAs are good too, they make inflation games less attractive. bemildred Jan 2013 #21

If I'm an "NBA/TV superstar" and my team/network is stupid enough to pay me that amount... brooklynite Jan 2013 #38

If we can get together and use our government to take all your money, what's wrong with that? bemildred Jan 2013 #39

Oy. Buzz Clik Jan 2013 #10

Vey. nt bemildred Jan 2013 #14

I am not a big fan of such things. Buzz Clik Jan 2013 #18

True, but people get hurt. And as you say, it's stupid. bemildred Jan 2013 #22

It is the estate tax that must be very high also. The US is no place for kingdoms. MrYikes Jan 2013 #4

Whatever the highest needs to be to provide the necessary services LiberalFighter Jan 2013 #5

Just at my gut level it should never exceed 50%. The Gov' should not get more than the earner 1-Old-Man Jan 2013 #8

What the hell. Take it all. Buzz Clik Jan 2013 #9

lol srican69 Jan 2013 #16

lol quinnox Jan 2013 #17

Taxing inheritance is much more effective than taxing income. Preventing the limitless accumulation Egalitarian Thug Jan 2013 #12

+1. Yes, that's where the real money is. nt bemildred Jan 2013 #23

And if we went after it everybody that works for a living could get a huge tax break. Egalitarian Thug Jan 2013 #28

I like the way you think. bemildred Jan 2013 #31

60-80 at least for the rich with yearly audits to determine how they were getting there wealth libtodeath Jan 2013 #19

I am all for raising everyone's taxes except mine. srican69 Jan 2013 #24

I dunno, but if the taxation system is progressive, then closeupready Jan 2013 #25

101%. hay rick Jan 2013 #26

What about Bill Gates? Or the late Steve Jobs? n/t el_bryanto Jan 2013 #44

Top marginal rate. hay rick Jan 2013 #48

the question is moot hfojvt Jan 2013 #27

"should"? well, in my dreamworld, income isn't taxed at all. WEALTH is progressively taxed. unblock Jan 2013 #29

Eliminate the income tax; instead, have a consumption tax (VAT), and tax capital gains at 20% n/t aristocles Jan 2013 #30

I think 40% is about right. Nye Bevan Jan 2013 #33

I'm not smart enough to know I guess. Inkfreak Jan 2013 #34

Beware of meddling with the estate tax aristocles Jan 2013 #35

Good point, didn't really think of that. Inkfreak Jan 2013 #42

Federal, or federal and state (and local?) combined? muriel_volestrangler Jan 2013 #37

Shouldn't discussion start with how much the government needs to do it's work, hughee99 Jan 2013 #40

The problem, grasshopper, is determining how much the government needs to do its work aristocles Jan 2013 #43

I agree. hughee99 Jan 2013 #46

I think it is fine where it is, but ALL income in a bracket should be taxed at the same rate n2doc Jan 2013 #45

How much? Crepuscular Jan 2013 #47

Graph: History of top marginal tax rates limpyhobbler Jan 2013 #49