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Comment by kalleboo | Hacker News Reader

It should be in proportion to how many % of the wealth they own. So more like 90%

They will simply leave, or destroy the system.

How do you imagine this would work? Would no one in America found companies anymore? Would the government sit by and allow the to leave? How would companies like health insurance leave?

Imagining that the richest can hold a country like the US hostage is preposterous.

No, they would try to make a bunch of shell corps and have only 1% in each corp. Distributing the wealth (to other entities that they control less directly). It would essentially just destroy brand recognition for large companies.

They're welcome to leave. Society doesn't need rich people.

Destroying the system would do more damage, but so far it's been their system that enables their accumulation of wealth. There are a lot of poor people who want to destroy that system.

The 1% earn 36% of the income[1] as of 2016, and pay 37% of the taxes[2]. Everyone happy now?

[1] https://www.cbpp.org/research/poverty-and-inequality/a-guide...

[2] https://taxfoundation.org/summary-latest-federal-income-tax-...

Income != wealth

Indeed, many billionaire and multimillionaire CEOs famously take a salary of $1. Bezos takes a salary of around $80k, IIRC. And, I'm not even sure if Bill Gates is taking a salary at all these days.

Income is taxed.

But the top 1% own much more than 37% of the wealth (and accordingly receive much more than 37% of the financial benefits of government spending) while only paying 37% of the taxes (which fund that government spending).

> and accordingly receive much more than 37% of the financial benefits of government spending

what?

They wouldn't have all that wealth if it wasn't for infrastructure, an educated population, a stable political situation, continual bailouts, and the world's largest war machine.

e.g. aircraft carriers

The wealthy produce more income via capital gains, which are taxed at lower rates. They also have greater access to tax deferred and tax free options. A married couple of high earners with a good retirement plan at work can put nearly 150,000 annually in accounts that grow tax free.

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