Originally Posted by
FNGFO
It relates pretty specifically with those who acquire skills and assume risks being more highly compensated than those who don’t regardless of the fact that one requires and relies on a multitude of the other.
The little guy can’t get ahead mantra is beyond tired whether someone made a video about it on YouTube or not.
Relating the fabricated scenario to real world taxes:
"Let’s says you have an idea that generates 10,000$ and you cannot do it alone. In fact you need 2,000 people for your idea to work. You decide to pay each of those people 2$ for their part while you keep 6,000$"
The workers are getting taxed 50 cents (25%), and the guy who came up with the idea is getting taxed $2,100 (35%). The government gets $3,100.
If the government raised the tax on the guy who came up with the idea to 45%, then he'd pay $2,700 in taxes and his workers would only need to pay 20 cents. 30 cents for them is huge. That's a 15% increase in their take home money. The rich guy is still taking home $3,300 when it apparently only costs $1.80 to live comfortably, in this scenario, so I'd say he's been well compensated. The only difference is now 2,000 other people now have a little more breathing room.
Consider the average HOUSEHOLD income is around $50k. How are you going to pay for your student loans, a mortgage, car, groceries, and insurance for yourself, let alone a family? That's the average American household. Not even factoring in savings, retirement, and any misc expenses. "Average" in America can't afford the basics. Now tell me the top 1% need more tax breaks. At least know when you're getting ripped off.
It's pretty hard to be innovative or start a new business when you can't even afford the basics without going underwater.