Flat tax for all!
>Anyway, I don't see why a billionaire shouldn't have a 90% bracket.
Lets ignore the economics and how going off the gold standard removed the government's ability to tax and taxation will trend toward 0% for everyone until we figure out a new standard.
However, let me tell you about 3 brothers. They all live on the same culdesac, they all have the same education, same type of job. The only difference is hours worked. The first brother works 20 hours, middle brother works 40 hours, and final brother works 60 hour/weeks. They come together and agree they want to contract a landscaping/flower place to put flowers on their culdesac. The flat cost is $10,000/each but the brother who only works 20 hours cant afford that. He wants his brothers to pay for it. They protest that he should pay his cut. The middle brother however devises a plan.
The poor brother will pay very little if not nothing. The middle brother pays less than $10,000. The final brother has to pay for most of it. They vote and 2 to 1 they win.
What happens? The brother working 60 hour weeks is now incentivized to reduce his hours so he gets less penalized.