I understand a high rate on income over that level but 100% removes all incentive to make more than that
I got into a discussion on youtube (I know) with this guy who was proposing we have a 90% tax rate on the 400 something billionaires we have in America. He said they'll still be rich.
Assuming you could get them to stay in the country and actually pay that 90% tax rate, it still wouldn't come close to covering our current spending levels, and I'd imagine this idjit would be for increased spending.
The weird thing is all the socialist started calling me a psychopath and a selfish a-hole. What the hell?
I want for everyone to keep as much of their money as they can, but I'm the a-hole huh?