Middle ane lower class Republicans and Conservatives of Reddit, why do you defend the money of the superwealthy?

Because defending their wealth is also defending my earned wealth.

For example, Ocasio is proposing a 70% tax on income over 10 miliion.

You might say, ok what's the big deal? They already make so much money, they can afford to pay that tax rate.

But, even after that tax hike, the gov will see very little extra tax revenue because overall there's only about 60k people earning more than 10m a year.

So next, there will be a bill coming for people who make over 1m a year. It still won't really make a dent because there's only ~260k people earning over 1m.

Eventually it will get down to a tax hike on those making over 100k and that's when it starts to hurt.

But even more than that, I just don't trust the government to spend the money wisely. I think the government is largely incompetent and I think we need much weaker federal/state government and much stronger local government.

/r/AskReddit Thread Parent