For most people, passive income is a bit of extra pocket change that requires minimal effort to earn to supplement a main source of income. For Steve Ballmer, it’s $1 billion.
  • danc4498@lemmy.worldEnglish
    371·
    11 months ago

    This is exactly why you do a progressive tax rate that charges a huge percent (50+) for every penny earned over 20 million.

    They can still get these massive bonuses, but get would be better off putting that money into wages that aren’t taxed so much.

    • overcast5348@lemmy.world
      17·
      11 months ago

      50% for 20 million sounds insane to me. I’d be clamoring for 75% or more. I’m in Ontario and people making something like 250000 CAD already have a marginal rate above 50% IIRC. Before anyone calls me a lazy commie, my marginal rate is in the mid 40s already, and I’m happy to do my part.

    • Sasha@lemmy.blahaj.zone
      228·
      11 months ago

      Oh honey, that’s so much more conservative than I’d tax. 100% over a million, easy.

      They don’t deserve huge bonuses so I’m not interested in letting them keep anything that insane. There should be a cap on income based upon the median wage or something IMO.

      • Blackmist@feddit.ukEnglish
        2·
        11 months ago

        None of these people earn their fortunes in a way that is affected by income tax.

        They’re not taking billions in cold hard cash every year.

      • danc4498@lemmy.worldEnglish
        1·
        11 months ago

        It’s probably not bad when you factor in healthcare. Especially the middle class that doesn’t get free healthcare but also pays the same as the super wealthy.