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originally posted by: onequestion
a reply to: DupontDeux
I'm talking about the stock market for the most part.
People will be more intelligent with their money especially if their making more enabling them to invest in the company themselves.
originally posted by: Edumakated
Hardly anyone paid those tax rates. A tax bracket does not mean you have people actually paying those rates.
originally posted by: Aazadan
a reply to: onequestion
A 90% capital gains rate won't work, because it would essentially shut down all investment. It's important for investment income to be viable in order for retirements to actually be viable. Social Security, Wall Street, Bonds, and many others all rely on getting money back and a flat 90% would break that.
What could work however is removing the concept of capital gains and just having income, then taxing income on a progressive scale as we do now (and have for the past 100 years) up to whatever top marginal rate you would like, which could be 90%.