Comment on Borrowing money against their stuff to get more stuff to borrow money...

• fodor@lemmy.zip ⁨4⁩ ⁨weeks⁩ ago

  Historically, taxing the ultra-rich at 90% or 95% has not stopped them from staying rich, and it also helped everyone else get more social services.

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  • hector@lemmy.today ⁨4⁩ ⁨weeks⁩ ago

    When the US was at the height of prosperity, when the working class had the highest standard of living, and disposable income, the highest ever in history of any working class hands down, in the 1950s, and until the 1970s when it declined precipitously in the late 70s, obscene incomes were taxed at 90 percent. The first so much was taxed at lower rates, above a certain amount the rest at 90%.

    The majority of taxes came from businesses too, 90%, today it’s flipped and 90% is individuals.

    Whatever problems existed in those decades, a minimum wage job paid for a family, bought a house, a cheap car, health care, food, incidentals, going out for a burger even. Just one of them. And that is the issue people care most about, having enough money to live with dignity.

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    • bridgeenjoyer@sh.itjust.works ⁨4⁩ ⁨weeks⁩ ago

      People argue that isnt why America was prosperous. " ACKSHUALLY We were prosperous during that period because we destroyed the other countries ability to produce."

      I don’t believe that myself, those idiots are billionaire apologists.

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