These companies paid their employees a median wage of $31,672 in 2022, while their CEOs took home an average $15.3m
37% federal plus 5-10% state, plus additional Medicare tax and 3.8% investment income tax and a bunch of others, not good enough for you? That’s literally approaching 50% what’s your problem?
37% federal means you are in the tax bracket that makes over $578,000/year. You’ll be just fine with several more percentage points added on.
So then add more percentage points. You don’t need a wealth tax to do that. Income tax is fine.
I fail to see the problem with your statement.
50% when you are Uber rich isn’t even that much. In plenty of countries you have that at a much lower level of income. Perfectly doable and fine
So crank it up to 60, 70, or 99%! You don’t need a wealth tax to do that.
The upper-class does not rely on income the same way the middle and lower class do. Taxing income affects us much more than it does them, that’s why you institute a wealth tax to spread the burden.
You simply don’t understand. All income flows into wealth. All wealth is eventually becomes, one way or another, taxable income. You can defer it for a while but it’s literally all the same thing.
You’re talking about legislating a massive clusterfuck, like you can’t even imagine how messy it would be, that pretty much nobody would comply with free of errors and omissions, all over a timing difference.
Just please, I’m fucking begging you, stop talking about a wealth tax, especially when you don’t understand how tax works to begin with.