Saturday, June 20, 2015

90% income tax for the top 1%?

I just had one of my usual eighth-grade math flashes.

The way things are going nowadays the top 1% will continue to garner 95% of all income growth to themselves into the foreseeable future.  In 25 years per capita income should grow 50% -- meaning top 1% should go from 25% of today's 100% to 75% of tomorrow's 150%.  40 or so years down the road top 1% incomes should take 125% of 200%.

Just tax future top 1% income at 90% -- we have 99% of the votes, don't we? -- and redistribute to government programs (e.g., health, education) and/or helicopter money, etc., whatever -- and we should all live happily ever after. 

Come to think of it we could start that 90% tax today (say on income over $2 million). 

No comments: