Let's hear your objections to a 100% income tax...

Started Aug 3, 2013 | Discussions thread
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Let's hear your objections to a 100% income tax...

...for incomes over $2 million (in 2013 dollars).  That is, income is taxed either progressively, or a flat tax, up to incomes over $2 million, but any income over $2 million is taxed at 100%, so that the maximum possible income is, say, $1.6 million (e.g. a flat income tax of 20% would net $1.6 million for the first $2 million, then 100% tax on all income after that).

Possible objections include:

1) This adversely affects me personally, as I make more than $2 million per year.

2) People who make such money do more good with that money than would the government.

3) It's just plain unfair -- people should not be penalized for being successful.

4) Our economy would suffer because the wealthy would leave the US.

5) Our economy would suffer because the wealthy would not have any incentive to create more industry and more jobs.

Those are just some possible objections -- please feel free to use any or all, and even add ones of your own.

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