A million a year barely lifts you beyond the middle class these days. You would still need a mortgage ( at least for a couple of years ) where I live.
I think maybe $10 million would be better. But I prefer a progressive system over a cap. Earning more money should always make you more money. People respond to incentives. We just need to increase the tax rate as high as 90% by the time you are making $10 million or more.
If a few billionaires had $100 million, it would not wreck society.
A million a year barely lifts you beyond the middle class these days. You would still need a mortgage ( at least for a couple of years ) where I live.
I think maybe $10 million would be better. But I prefer a progressive system over a cap. Earning more money should always make you more money. People respond to incentives. We just need to increase the tax rate as high as 90% by the time you are making $10 million or more.
If a few billionaires had $100 million, it would not wreck society.