Did you know that the US has had
high income tax rates in the 90% range for decades.
Up to 1963 it was 91% for all income over $400,000. Now it's at 35%.
Somewhat related:
From alternet
In 2009, the worst economic year for working people since the Great Depression, the top 25 hedge fund managers walked off with an average of $1 billion each. With the money those 25 people “earned,” we could have hired 658,000 entry level teachers. (They make about $38,000 a year, including benefits.) Those educators could have brought along over 13 million young people, assuming a class size of 20. That’s some value.
The income from hedge funds is capital gains and only taxed at 15%
And how much African child's could be saved from diarrhea?
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ReplyDelete91%, wow. That makes you want to leave for Belize.
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