Progressive tax rates doesn’t make filthy rich people less richer. And it doesn’t really hurt middle class as hard as the poors. Actually, progressive tax rates make poor people even more poorer directly and indirectly.
When you make $100 000 a month and had to pay 60% tax, you hide $80 000 using off-shore accounts, deduct $10 000 with the help of your fellow accountant, pay $6000 and get $94 000 to spend on whatever you like.
When you make $3000 a month and had to pay 50% tax, you pay $1500 + $400 for different socialistic crap you think you may be find useful in the distant future and get $1100 to spend on food, closes, gadgets and entertainment.
When you make $800 and had to pay 40% tax, you pay $320 + $400 for different socialistic crap and get $80 for food. And when you come to the socialists with the words “Help me please, all I can afford is the cheapest and crappiest food I can find”, they are answering with “look, dude, you have a job and a pretty descent salary. You have nothing to complain about. You know, children in Africa, they are starving…”
Tags: shmolitics
