Thank you very much for your answers.
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once you're passed 100%, it's not really just an income tax but also a savings tax. t
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'.
Once the Income Tax Rate passes 99.9% over to 100% and over must Savings be taxed since you can't tax 100% of someone's Income without taxing all their Money how does this work with a Progressive Income Tax does anyone have any links this is going to be my last question about Taxes ?
Thank you very much for your answers.
Thank you very much for your answers.
also is it true that when you tax income past 99% past 100% you tax savings because i
[FONT=times new roman]Could a high Progressive Income Tax make Rich people poor or make all incomes equal why or why not also is it true that when you tax income past 99% past 100% you tax savings because it is more than your income ?
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
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Does anyone know thank you ?
Does anyone know thank you ?
A progressive income tax would'nt make rich people poor unless its rediculously high, which no socialist would support, socialism is much less about taxes than it is about worker control, socialization and expanding the commons.
Past 100% it would be taxing savings I'd presume, but its kind of pointless because that would'nt happen, I believe it has happened in the past but not for long.
Marginal tax rate is the tax rate at the last dollar you are paying, for example your first $50,000 might be taxed at something, whereas above that its taxed at something else.
A progressive income tax wuld restrict purchasing power, because your restricting income, at that point your talking semantics of pruchasing power includes future income, or only current funds.
Thank You for your answer.
Thank You for your answer.
