What percentage should the rich pay in taxes?

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100 percent would be ideal

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You guys have to remember that if we taxed the rich at 100% (those making over $1MM a year), the take would only be $616 billion, which is no where near enough to fund anything like universal healthcare, etc.

Ah yes, but a 100% tax is not supposed to be a revenue raiser; but like a carbon or tobacco tax - a way to discourage an undesirable activity.

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You guys have to remember that if we taxed the rich at 100% (those making over $1MM a year), the take would only be $616 billion, which is no where near enough to fund anything like universal healthcare, etc.

Ah yes, but a 100% tax is not supposed to be a revenue raiser; but like a carbon or tobacco tax - a way to discourage an undesirable activity.

... You think it will discourage people from going after and/or accepting a higher salary?

Corporations are currently engaged in an arms race, giving executives a huge amount of cash because everyone other company is doing. That means a) companies became more top heavy and less efficient and b) the public sector can no longer compete for talent (unless it follows suit and awards ridiculous salaries for its top brass as well, which nobody wants).

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Income tax should be abolished.

Failing that, a flat tax of $1,000 per employed person.

Wait a flat fee Good incentive to never get a job or only hire off books, i guess

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You guys have to remember that if we taxed the rich at 100% (those making over $1MM a year), the take would only be $616 billion, which is no where near enough to fund anything like universal healthcare, etc.

Ah yes, but a 100% tax is not supposed to be a revenue raiser; but like a carbon or tobacco tax - a way to discourage an undesirable activity.

... You think it will discourage people from going after and/or accepting a higher salary?

Corporations are currently engaged in an arms race, giving executives a huge amount of cash because everyone other company is doing. That means a) companies became more top heavy and less efficient and b) the public sector can no longer compete for talent (unless it follows suit and awards ridiculous salaries for its top brass as well, which nobody wants).


While I'd love the left to give tax professionals like myself some additional business, such a measure is unlikely to be ineffective even by sin tax standards. A CEO is not a guy making $45,000 a year, and can take all sorts of measures to defer or avoid income tax.

The people who will be worst hit by this tax will be the people not quite rich or sophisticated enough to hire a tax planner.

This doesn't seem to answer my point Just has the standard, "oh capital flow and hurts the middle incomes" response. Just set it as ratio if the overall cap tax is too awful, so nobody in one company/organisation can earn more than 15 times the bottom rung (and cap bonuses, severence packages etc. to prevent people walking round it).

If the capital flows, it flows. The country will live.