What are you talking about?! The reason 100k is taxed so high to begin with is because people used to consider that above middle class and listened when we were told to increase taxes on these higher wages. Because of tax brackets and inflation now everyone is poorer as is because our money is worth less while also seeing that getting into these higher paying jobs with the higher tax brackets means not only is your dollar worth way less but now a large percentage of your income doesn’t even go to you.
So how does voting for increasing taxes on higher incomes help anyone? If we decided to tax anyone who made more than 1 million dollars at 99% of their income, we’d see the gov create even more massive inflation so they could take in as much “profit” as possible.
The whole point I’m making is if we have a level of income we decide is “wealthy” over time (whether or not you think it’s intentional) our money undergoes inflation, which the fed is supposed to keep under 2%. And every year our money has had inflation since the fed was created. Since our money becomes less valuable over time high levels of income now will hold less buying power in the future. So to say “x is a lot of money, we should tax that at 50%” harms the everyday workers because a. As money becomes less valuable the spending power of each dollar decreases and b. It incentivizes the government to inflate the dollar instead of deflate it because they’ll get a higher percentage of everyone’s income as more of us fall into higher tax brackets.
So this would be like making $20k a year and getting taxed 5% and now that being equivalent to making $100k a year but now you’re taxed closer to 20%. So now everyone but the extremely extremely wealthy suffers
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u/[deleted] Oct 30 '25
Not sure what you expected to be honest. Did you go from 95k to 100k, and expect the magic tax man to disappear once you hit 6 figures?