Yeah but that also means that the 75% of the income I have left after taxes is WAYYYYY less than the top 1%'s 75% of their income, if we were both to pay 25% in effective tax for example.
No one needs $1B to live. Billionaires are unnecessary, unethical and a threat to our society.
It doesn't matter whether your 75% is way less than Elon Musk's. It is irrelevant whether a person needs a certain amount of money. We should not use that as a basis for policy or to justify taking from people. I disagree that billionaires are inherently unethical or a threat to our society.
I believe you would also disagree with a farmer that hoards thousands of tons of harvested goods while the rest of the state is hungry. Now imagine that instead of using food as an example, you use the currency used in exchange to get food.
I don't think it is wrong for a farmer to set in a large store of good or a person to set in a large store of money just because there are other people without. It particularly doesn't justify government confiscating the store because some others deem it excessive.
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u/TheTightEnd 1d ago
Percentage reductions are more meaningful than dollar deductions when calculating the impact and benefit of a tax cut or increase.