All the liberals and “progressives” have the same solution for everything. Target the extremely rich — the 1 percenters — with much higher taxes. I was listening to one politician the other day recommend a tax rate of 80% for the people in the 1 percent income bracket, and she said it without missing a beat — unapologetically.
That would mean that the government would claim 4 out of every 5 dollars earned by a member of the 1 percent bracket. In effect, the super rich wouldn’t be working for their own self-interest anymore. They would be working for the self interest of the government.
The top 1 percent already pay 37.6% of all the taxes, i.e., they already pay way more taxes than one would expect. But according to these liberals and progressives, that isn’t nearly enough.