Subject: Nah, way more than that.
Author:
Posted on: 2022-08-23 23:26:48 UTC

This is how income tax works in the UK. You get the first £12K or so tax free, then pay 20% on everything else up to about £50K. That jumps to 40% on everything from there up to £150K, and then... ticks up only a fraction more.

A normal person, who earns money even vaguely proportional to the amount of work they do (as opposed to the amount of work other people do), will pay between 10-20% of their total income in taxes. Jeff Bezos, if he could be bothered to pay taxes and was in the UK, would pay effectively 45%. At one point he was earning $230,000 a minute, but the UK government loves pandering to the rich, so it would still be 45%.

It should be much, much higher. Make it 90%+ once they reach a certain level. I think Bezos made $24 million in the first year of Covid - tax the top $23 million of that at 90% and it would still be $2.3 million.

Nobody needs that much money. Just going by Wikipedia the man has at least ten houses in the US and a half-billion dollar yacht. Nobody needs that much money.

Tax the rich. They can afford it.

(US tax brackets, by comparison, tax the poor more than the UK and the rich less.)

hS

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