Honsoku
Posts: 422
Joined: 6/26/2007 Status: offline
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quote:
ORIGINAL: KenDckey I was talking to a friend yesterday. She thought that the rick make to much money and that the poor get screwed. I would agree that the poor get screwed but disagree that the rich make to much money. So anyway, her concept was to set an income cap, She watned to set it at $100,000 limit gross. But if it were set at $100K or $1 Million. The concept she was expousing was that any income in excess of that would be taxed at the rate of 100%, thus sending it to the public coffers. The source of the income being irrelivant and deductions not allowed for anything over the set point. Although it would pay off the national debt pretty quickly that way, I personally think it is crazy? What do you think? This idea would fail and fail dramatically. All that would happen is that people would find other means to pay/get compensation. The excess income would almost never get paid, as it serves little purpose. So what would likely happen is that the government would collect less in taxes than it does now, putting it into an even greater financial bind. Instead of money, you would see a lot more company cars, houses, planes, and whores. This would push the social power structure even more into the hands of corporations . The flow of wealth is one of those things that is nearly impossible to regulate. I do wonder if top tier talent is frequently overcompensated, that they are being paid in excess of the monetary benefit they bring due to a balloon effect, but this isn't the way to fix that.
< Message edited by Honsoku -- 2/8/2008 12:55:55 PM >
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