Yet people still hate the thought of a "maximum wage" or limit to wealth. Everyone should have a life of comfort, not just those who won the lottery or were born into it.
If you rent a $10m house you pay $500k a year for it. With 50% tax you'd have to earn $1m a year to pay the rent.
If you own a $10m house you pay no rent, and have to earn $0 a year to live there.
That includes everyone who filed a tax return from the kid working at McDonald’s to Warren Buffet.
Not sure what you’d call a comfortable life but a single mom making $72,000 per year would be struggling in many major cities.
The comment I replied to referenced a “wealth cap” and “redistribution” so “everyone could have a comfortable life”.
My point is that take to an extreme of equal redistribution to everyone, people would end up in a barely comfortable position.
So all those people who sold $100M businesses are included in that $72,000 figure.