this post was submitted on 05 Oct 2026
255 points (99.6% liked)

politics

31307 readers
2086 users here now

Welcome to the discussion of US Politics!

Rules:

  1. Post only links to articles. Title must fairly describe link contents. If your title differs from the site’s, it should only be to add context or be more descriptive. Do not post entire articles in the body or in the comments.

Links must be to the original source, not an aggregator like Google Amp, MSN, or Yahoo.

Example:

  1. Articles must be relevant to US politics and contain quality and original content. Social Media adjacent hosts like Substack are allowed, but ONLY if they tie back to a company/subsidiary. No personal or friend group blogs and no self-promotion. Articles should be worth reading. Clickbait, stub articles, and re-hosted or stolen content are not allowed. Check your source for Reliability and Bias here.
  2. Be civil, No violations of TOS. It’s OK to say the subject of an article is behaving like a (pejorative, pejorative). It’s NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing other users of being bots or paid actors.
  3. No memes, trolling, misinformation, or low-effort posts/comments (including reposts). If you see posts like this that anger you, do not engage. Report, block, and live a happier life than they do. Any slap-fight is subject to comment removals. Fights full of rule violations will result in temporary bans to cool off.
  4. No manipulating votes via bots or alt accounts; this will result in permanent bans. Vote based on comment quality, not agreement. This community aims to foster discussion; please reward people for putting effort into articulating their viewpoint, even if you disagree with it.
  5. No hate speech, slurs, celebrating death, advocating violence, or abusive language. This will result in an account ban. Usernames containing racist, or inappropriate slurs will be permanently banned.

We ask that the users report any comment or post that violate the rules and use critical thinking when reading, posting, and commenting. Users that repeatedly have comments or posts removed, weaponize reports, or violate the code of conduct, will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users. The reason(s) behind moderator action(s) are publicly available through the Modlog.

That's all the rules!

Civic Links

• Register To Vote

• Citizenship Resource Center

• Congressional Awards Program

• Federal Government Agencies

• Library of Congress Legislative Resources

• The White House

• U.S. House of Representatives

• U.S. Senate

Partnered Communities:

• News

• World News

• Business News

• Political Discussion

• Ask Politics

• Military News

• Global Politics

• Moderate Politics

• Progressive Politics

• UK Politics

• Canadian Politics

• Australian Politics

• New Zealand Politics

founded 3 years ago
MODERATORS
 

Proposition 40, which will be on the ballot in November, would impose a one-time, 5% tax on California’s 200 billionaires,

These fucks will do anything to avoid paying taxes...

with 90% of the revenue from the proposed measure going toward the state’s health care program and 10% going toward education, food assistance, and administration. Brin, with a net worth of nearly $260 billion, could owe about $13 billion as a result of the tax.

Can't be contributing to "socialism" I guess? Get some of that $260 billion liquid and pay up, dickhead.

you are viewing a single comment's thread
view the rest of the comments
[–] DickHertz@lemmy.world 34 points 2 hours ago (1 children)

Bring back pre-Reagan tax rates on the rich.

[–] FrChazzz@lemmus.org 8 points 34 minutes ago (1 children)

Those 1950s glory days that Republicans keep harkening back to involved Ike, a Republican president, taxing the wealthy like 52% (fake viral posts say 90%).

[–] hraegsvelmir@ani.social 2 points 14 minutes ago* (last edited 5 minutes ago)

Is it fake viral posts, or just people not understanding how marginal tax rates work or how they differ from your effective tax rate again? The highest tax rate did cross over 90% at the tail end of WWII, but very few people actually had to pay taxes at that rate, and even then, their effective tax rate would have been much lower.

Edit: Just to illustrate, this site has historical tax rates for the period in question. For the sake of simplifying then math, I'm doing this assuming you only paid 3% income tax on income up to $100,000/year, and 94% on earnings above that with the surtax. Source for the income numbers is straight out of my ass, but it doesn't really matter, as it's only to illustrate the point. So, say that year, you managed to make $110,000. You would pay 3% on your first $100,000 in taxable income, and 94% on the remaining $10,000 you earned above that, making your effective rate 11.27% across your whole income, with a tax liability of $12,400. You can have both lower effective tax rates and higher marginal tax rates for your highest earners without either one negating the truth of the other.