Kenneth416 wrote: While I will not be affected by the increase in the marginal rate of taxation of salaries and wages from the current 35% to 39.6% (as under the Clinton-era), I doubt that it will have a serious effect on the behavior of the highest earners. Note that, for a high earner who earns $1M, the additional income tax will be only $46,000, less than the cost of the luxury Mercedes or Lexus he or she drives (and which is probably provided by his/her employer, anyway). The real bite comes in the tax on Dividends and Cap Gains, where the...
Gungy brings up a point that has interested me for decades, ever since my sister lived in Sweden and had to ride a motor scooter to the hospital to give birth at no cost, of course. The same year, the list of world's richest men came out with the Swede who owned Saab #2. It bothered me that a socialist could be the second richest man in the world. It bothered me even more than that the richest man could be a Catholic and live in Rome, or near it, but I have seen the Vatican. It came to me that if the govenment owned everything, then the few guys who owned the government would own everything. They could have a Dacha and a 747 equivalent, three Mercedes 600,s or anything they wanted. And that is how it works. Remember Nancy's airplane?
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