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https://warpcast.com/~/channel/politics
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Jared 🎩
@javabu.eth
Our current tax system is progressive because we pay the same rate within each tax bracket. Only the portion of income that falls into a higher bracket is taxed at the higher rate, not the entire income. Anyone who tells you it’s not fair either doesn’t understand taxes or is lying to you.
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MattwithouttheT 🎩
@mathew.eth
In my opinion, need to add a few more brackets with tax rates as high as 70%+ as you get into the $100M range.
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Ryan
@ryanfmason
I think it’s a different definition of fair. You can reasonably understand how somebody would think a either a progressive or a flat tax system are both fair
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littleshrimp
@littleshrimp
That would be true if there weren’t tons of loopholes and advantages for anyone with money enough to hire experts to find them
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niftytime
@niftytime.eth
Yeah my main quibble comes from a lack of accounting for that period in American history where folks could stack unlimited generational wealth and assets (eg gilded age) Never gonna happen but would love folks to be able to select two years where they can opt out of paying any income/capital gains taxes to allow them to accumulate a base of some means Not a 1:1 match with gilded age titans but would negate the steep slope to accumulating meaningful wealth that the progressive approach to taxation creates
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