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Comment by JKCalhoun | Hacker News Reader

"Personally, this is why I am fine with higher income or sales taxes."

Indeed, the working poor need to pay more in taxes.

Not even the poor. Really everyone working. I would much rather sleep all day and live off of a pile of money than to show up somewhere and do something for money. That's the tax -- 35% of your waking hours are now at the service of someone else. And yet, they charge income tax on that. Stay home and live off a stash of money in your mattress, 0% tax, 0 obligations. Wake up and commute to work, 35% of your week gone, 35% of your "income" gone.

I am not even that mad that I personally have to pay taxes. I enjoy funding government programs! I think I owe society something! But it sure doesn't make sense that already being rich makes you immune to giving back to the society that made you that way.

To me the most egregious is inheritance not being taxed like income. You can get $10m in a year and pay less tax than a working person.

Even worse, step up basis! That capital gain may never be taxed

Which is why the majority of people in California who work for a living shouldn’t be carrying any water for billionaires or hundred millionaires, you could even extend that down to someone who’s worth 10 million, until you get to that level, you don’t realize how many people over that level have it very easy.

In comparison to the majority of the population, you know the other 99%. That’s right, you heard it right. 99% of the population does not have $10 million free and clear without debt. In other words, if you are still paying off your house you are not in that upper bracket.

everyone working is the poor.

the rich are an astounding amount of wealthy such that they dont show up and still make a good poor wage in the first couple hours/days of a year by their assets increasing in value

you are poor, even if you are doing plenty well for yourself

The numbers on wealth distribution are shocking, to say the least. I think wealth taxes without loopholes are a really good idea in the current circumstances, infact I believe it may not go far enough. And I think there has to be a global concerted effort to tax wealth.

The working class are starting to choke and drown in financial stress, and this will only get worse. Capital naturally accretes and we've never had this level of capital concentration in human history.

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