[Signalman]

Not defending it...but this is the marginal tax rate, not a tax on every dollar someone earns. For example, it might be 90% over anything over 1M dollars earned or whatever the govt. decides the figure would be.

[ifinnegan]

“Not defending it...but this is the marginal tax rate, not a tax on every dollar someone earns. For example, it might be 90% over anything over 1M dollars earned or whatever the govt. decides the figure would be.”

Yes, but these liberals think it means the top earners paid 90% of their income.

[AnotherUnixGeek]

Not defending it...but this is the marginal tax rate, not a tax on every dollar someone earns. For example, it might be 90% over anything over 1M dollars earned or whatever the govt. decides the figure would be.

The problem is that many wealth and job creators would see most of their income subjected to this tax level. Many of the people making over this threshold do so because they generate wealth - where is the financial incentive for such people to take financial risks and engage in ventures to create gainful employment for others if they know that if they succeed, most of their personal income will be confiscated at a 90% level?

[Rusty0604]

I’m pretty sure everyone knows that, except for someone that never had any income to pay taxes on.