this post was submitted on 23 Feb 2025
1107 points (99.6% liked)
Political Memes
6252 readers
2703 users here now
Welcome to politcal memes!
These are our rules:
Be civil
Jokes are okay, but don’t intentionally harass or disturb any member of our community. Sexism, racism and bigotry are not allowed. Good faith argumentation only. No posts discouraging people to vote or shaming people for voting.
No misinformation
Don’t post any intentional misinformation. When asked by mods, provide sources for any claims you make.
Posts should be memes
Random pictures do not qualify as memes. Relevance to politics is required.
No bots, spam or self-promotion
Follow instance rules, ask for your bot to be allowed on this community.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Correct me if I’m wrong, but I don’t believe that the super rich actually have a high conventional income normally. Most of their wealth would be from investments and stock.
A neat trick with that is that they can take out loans against their stock to buy superyachts, governments, and other toys and that’s not only not income, the interest is tax deductible. Plus there are other tricks like S Corps to shield them. So, this isn’t as useful as it would suggest (not that we shouldn’t tax >100m at 99% or something just to make the point.)
You're not wrong.
But keep cutting their taxes and they can have more conventional income in addition to everything else.