World’s five richest men double their money as poorest get poorer

floofloof@lemmy.ca to News@lemmy.world – 344 points –
World’s five richest men double their money as poorest get poorer
theguardian.com
29

You are viewing a single comment

This is such a good visualization of big numbers and big bank accounts.

It's also a good way to really see the bull shit argument that it's unfair to tax the wealthy at a higher rate. Even if they get taxed at 90% (which I don't think will happen in my lifetime) they still will have enough money for them and their decedents to live a lavish lifestyle. And that extra money could really make America into the country that it pretends to be.

Also, the "taxed at 90%" is a red herring too, since that's not how progressive tax brackets work. Nobody's effective tax rate would be close to 90%, even if we raised the top marginal rate to nearly 100%.