Hacker News Reader

What would you say is a fair amount to tax the rich?

Say the top 10% have 50% of the income. How much of a percent of the total tax burden should they be responsible for?

50%?

60%?

70%?

90% of every dollar after the first $10 million/year seems like a fair and rational starting point.

And what about the top 1%?

Say they have 20% of the income, how much of the total tax burden should they bear?

20%?

25%?

30%?

Why so low, let's go back to the 70s and 80s of taxing 50+% on income over 200k and tax capital gains the same as income while we are at it.

I'm not asking about tax brackets, I'm asking about percentage of tax burden.

Ie: out of all the income taxes paid, which proportion should be paid by the top 1% of people who make 20% of the income.

100%

Those fortunes were built on the backs of our labor and creativity. And they have way, way more than 20% of the wealth.

100% is the only answer.

So your stance is that 20% of the income should bear 100% of the taxes?

So that 80% of the income should pay 0% of the taxes?