Could a high Progressive Income Tax make Rich people poor or make all incomes equal w

[tradeunionsupporter]

Could a high Progressive Income Tax make Rich people poor or make all incomes equal why or why not ?

once you're passed 100%, it's not really just an income tax but also a savings tax. the additional money can't come from income if it is greater than 100% of your income. it has to come from stored up wealth of the person you're taxing them on.
PS - look up what 'marginal tax rate' means. it isn't the same as 'income tax rate'.

Even a steeply progressive income tax---right up to 99% on the highest incomes---would impose no loss of purchasing power on wealthy income earners
http://nontrivialpursuits.org/Tax_Policy.htm

[tradeunionsupporter]

Please anyone reply thank you for your answers.

[thesadmafioso]

Socialism does not seek to maintain the purchasing power of the bourgeoisie, it seeks to expropriate them of their wealth and means of production entirely. You speak of nothing beyond reformism and it has no substantial place in the movement of the revolutionary left.

[CynicalIdealist]

^I would argue that it has a place in the context of supporting higher progressive income taxes if they're on the table, but not as an end in and of itself.

[thesadmafioso]

^I would argue that it has a place in the context of supporting higher progressive income taxes if they're on the table, but not as an end in and of itself.

Interestingly enough, I actually had such a paragraph detailing how that thought should be conditional in some circumstances written out in my original post, but I cut it because I thought it sort of clashed with the directness of my first point.

But yeah, I agree that it should be considered to be something we should support, just not in any sort of prominent fashion where it is displayed as an end or anything of the sort.