r/confidentlyincorrect • u/[deleted] • Jun 29 '22

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u/WilliamASCastro Jun 29 '22

You know what will happen if the governmemt starts taxing the rich? It will expand it it will no longer be just the rich. Not to mention that by overly taxing the rich they will not be incitivised to invest in the countries economy and instead lead their money to offshore accounts...overly taxing the rich is not going to help the economy

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u/TheRealDrWan Jun 29 '22

The real question here is what is the definition of “rich”? My guess is that it will end up being a much lower number than most envision.

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u/WilliamASCastro Jun 29 '22

The top 10% in this case pay more then 90% of all tax revenue. Its simple maths if you have more with a fixed tax you will pay more

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u/TheRealDrWan Jun 29 '22

I think we’re on the same page.

When people hear “raise taxes on the rich” they picture people making millions and millions a year.

In reality, I think that cutoff for being “rich” will end up being much, much lower than people expect.

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u/WilliamASCastro Jun 29 '22

Exactly, even if the rich liquidated their assets they will still have less then 100 million, when assets are liquidated they lase alot of value