Students in Massachusetts will get free lunch and breakfast at school thanks to a new 4% tax put on people who earn more than $1 million.
Students in Massachusetts will get free lunch and breakfast at school thanks to a new 4% tax put on people who earn more than $1 million.
I’m pretty sure at an 80% rate the millionaires would just spend the rate moving, out of state or out of country depending on how far reaching it was.
And nothing of value was lost…
Like, oh no, what would a state do without their money hoarding exploiters that alredy contribute less than the bare minimum???
And worse - if everyone decided to make these laws, where will the poor millionaires escape to then???
Oh, won’t someone think of the millionaires!!!11
Except the taxable income you wanted to tax?
You mean the money that we already aren’t getting?
I don’t want to tax, I want to eat.
Oh look, someone else who doesn’t understand how progressive tax brackets work. Their effective tax rate wouldn’t be 80%, only income above a certain (very high) number would be taxed at 80%.
That’s exactly how that would go.
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People found all sorts of loopholes to not pay that. Nobody paid that much taxes.
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So lemmy is just as stupidly socialist communist as reddit… got it…
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Do you have any evidence for that claim, or are you just stating it with certainty because it feels right to you?
Nobody paid 90% of their total income because that’s not how tax brackets work.
So lemmy is just as stupidly socialist communist as reddit… got it…
Because I know how taxes work?
Then we’d be rid of them at least