How come when tax rates were over 90% or 70% how come the Rich people did not become poor also could a?
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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:
Some very wealthy people have lost a great deal of money in this recession, but they had enough in reserve to continue to pay their mortgages and Charge Cards. It has indeed curbed the life style of some very well known wealthy families. I would really hate to think that there was any way that the government could confiscate an individual's wealth by taxing 100%.
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