You don’t really tax individuals, you tax the wealth regardless of who owns it. So 90% tax on unused wealth, the ‘hoarded’ excess of wealth that no individual needs and which could benefit others. Progressive taxation means you tax someone’s wealth less up to a certain point, let’s say 10 million, and you tax more on any wealth above that.
90% is probably still low, it should really be at whatever percentage wealth can’t accumulate.
In the 40s it was as much as 90%, and that caused the boom in the 50s
90% tax on the top 1%?
You don’t really tax individuals, you tax the wealth regardless of who owns it. So 90% tax on unused wealth, the ‘hoarded’ excess of wealth that no individual needs and which could benefit others. Progressive taxation means you tax someone’s wealth less up to a certain point, let’s say 10 million, and you tax more on any wealth above that.
90% is probably still low, it should really be at whatever percentage wealth can’t accumulate.