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Bluetus

(3,004 posts)
4. I don't think that's a difficult question
Sat Apr 18, 2026, 03:50 PM
Apr 18

The exact limits can always be negotiated, but if there is a wealth tax, I think $50million per household would be a sensible entry point at a modest level and accelerating sharply above the billion dollar mark. A 2% net worth tax above a billion dollars makes good sense. IOW, a person with $1bn in net worth would pay $20M every year and would never miss any of it. If they did decline below $1Bn in net worth, then their share would go down, so none of them would ever feel any pain.

As far as income tax, put it back where it was in 1960 when our middle class was healthy. A high top marginal rate ENCOURAGES investment because investments in your business and work force are deductible. The top bracket in 1960 was 91%. Nobody ever paid that because they did reinvest in their businesses and work force. But a few people did pay 50-60% and that's fine. Keep in mind they only pay that high rate on the topmost part of their income. Even a person reaching the 91% bracket is probably paying only a 50% effective rate.

And let's stop playing pillow fights about Medicare, Medicaid and Social Security. Remove all the caps on that. A billionaire should pay the full rate just like everybody else. And that will EASILY fund Medicare for all and keep Social Security solvent through the end of this century.

Recommendations

5 members have recommended this reply (displayed in chronological order):

Start with average income vs median income.. I'm willing to negotiate from there ck4829 Apr 18 #1
Progressive or graduated taxes Cirsium Apr 18 #2
I think the problem is that the "wealth" of the ultra wealthy Bettie Apr 18 #23
I Need To See Data... ProfessorGAC Apr 19 #38
Tax the wealthy like you want to drown them in a bathtub. bucolic_frolic Apr 18 #3
This message was self-deleted by its author PeaceWave Apr 18 #21
I don't think that's a difficult question Bluetus Apr 18 #4
I'm a big fan of a wealth tax... WarGamer Apr 18 #9
Maybe... The Revolution Apr 18 #15
10m wealth... that's a lot of house and assets. and 0.3% on 10m wealth is just 30k tax WarGamer Apr 18 #17
The people with $10M of net worth are not the problem in our society Bluetus Apr 18 #25
Wealth Tax isn't punishment lol... WarGamer Apr 18 #30
We should set a high bar. I agree with you. Bluetus Apr 18 #32
I have no problems with billionaires... they just need to pay up! WarGamer Apr 19 #34
I don't have envy of those who work hard and are successful because of it Bluetus Apr 19 #37
We'll know that when we finish. -misanthroptimist Apr 18 #5
Start at the top income...work your way down... ret5hd Apr 18 #6
How is it defined when giving out TAX CUTS?! leftstreet Apr 18 #7
$400k was the last dividing line... WarGamer Apr 18 #8
In income, not net worth. NutmegYankee Apr 18 #10
For the wealth tax... I'll start taxing families and individuals at $10M WarGamer Apr 18 #11
This message was self-deleted by its author PeaceWave Apr 18 #16
I'm only referring to personal wealth... the farm should be an LLC WarGamer Apr 18 #18
This message was self-deleted by its author PeaceWave Apr 18 #19
Every billionaire will suddenly put all their money into an LLC tinrobot Apr 18 #24
I think something can be worked out for family farms which was the example. WarGamer Apr 18 #31
And what if Superman was a Nazi? dpibel Apr 18 #33
Top down, and I'll let you know when we get there. Iggo Apr 18 #12
How was it done under Eisenhower? thucythucy Apr 18 #13
I'm thinking you need to include any income asset or investment, haele Apr 18 #14
This message was self-deleted by its author. demmiblue Apr 18 #20
"...taxing of inherited wealth in excess of $1 million." IMO, stupid. flvegan Apr 18 #22
Agreed ... That's too low a number. Personal story JT45242 Apr 18 #28
This message was self-deleted by its author PeaceWave Apr 18 #29
Varies by kind of tax... JT45242 Apr 18 #26
How many... ZDU Apr 18 #27
I am a TSP Millionaire DenaliDemocrat Apr 19 #35
Bill Clinton taxed the wealthy. Maybe see how he did that and Nixie Apr 19 #36
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