re: #58 lawhawk

Annual income versus accumulated income. They’d still be billionaires accumulating more wealth. It would just slow down their rate of accumulation - but only by a bit. Most of their wealth comes from investment, not actual earned salary.

Investment income is treated differently than earned income (which is what most people live off of). Investment income - long term investment income - capital gains, is treated at a lower income tax rate than what most people pay (15%).

The Waltons would do well no matter what the ultimate tax rate is on the top tax bracket.

Yes, I’m just trying to put it in perspective. How many of them actually get a paycheck and how much of that would be left after taxes?

The capital gains are a separate issue. I have a feeling a lot of the investment income isn’t even in the US. Obama has been working to solve the reporting issues on “hidden” money.