How come when tax rates were over 90% or 70% how come the Rich people did not become poor also could a tax rat?
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How come when tax rates were over 90% or 70% how come the Rich people did not become poor also could a tax rate that high make the rich poor also how high can tax rates go can tax rates go past 100% ?
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Answer:
You know, the US Government worked just fine for the first 130 years with a maximum tax rate of just 7% So why not go back to that tax rate ? If you want more social services, then why not do what every other country's do, tax all citizens to some degree And not be like the US, where 47% of households do not pay any federal income tax.
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Other answers
Wealth is normally created through the free market system. Taxes did not effect their already accumulated wealth - except the "Death Tax". They continued to "Create" Wealth - but they hired less employees - leading to a depression. Wealth Redistribution assumes wealth is static = Not True. Kill off businesses and you will kill off wealth creation. To bad the youth today - Ignore History and Must Repeat Mistakes!
Because they cut the pay of their workers...or are you that uninformed that you think they will allow THIER money to be STOLEN without fighting back
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