Anything short of 100% tax rate above ~$50 million isn’t enough, since with that 90% rate, the ultra wealthy were still able to buy the government and buy influence among the populace.
The Red Scare didn’t come out of just one guy’s ideas.
That’s an intriguing thought. My kneejerk reaction was the desire to reply that a 99% max rate is enough because why put a hard cap on individual success. But after as moment’s thought I believe you’re right. 1% of billions of dollars is still more than enough wealth to snowball the accumulation of wealth and power over time in a manner that allows the most successful people in the system to pull the rug out from under that system. Without a hard cap, at best you just stave off that eventual erosion.
Anything short of 100% tax rate above ~$50 million isn’t enough, since with that 90% rate, the ultra wealthy were still able to buy the government and buy influence among the populace.
The Red Scare didn’t come out of just one guy’s ideas.
That’s an intriguing thought. My kneejerk reaction was the desire to reply that a 99% max rate is enough because why put a hard cap on individual success. But after as moment’s thought I believe you’re right. 1% of billions of dollars is still more than enough wealth to snowball the accumulation of wealth and power over time in a manner that allows the most successful people in the system to pull the rug out from under that system. Without a hard cap, at best you just stave off that eventual erosion.