A Boring Dystopia

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How one of the world’s richest men is avoiding $8 billion in taxes (www.seattletimes.com)

submitted 2 weeks ago by Zpk1a@lemmy.world to c/aboringdystopia@lemmy.world

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[–] Rivalarrival@lemmy.today 35 points 2 weeks ago (1 children)

Exactly. Nobody will ever actually pay a 90% income tax rate, nor should they. The purpose of a 90% top-tier income tax rate is to convince them to actually spend their money in the economy instead of hoarding it in financial assets.

[–] theneverfox@pawb.social 10 points 2 weeks ago

You know what you get with that? Bell labs.

Bell Labs is credited with the development of radio astronomy, the transistor, the laser, the photovoltaic cell, the charge-coupled device (CCD), information theory, the Unix operating system, and the programming languages B, C, C++, S, SNOBOL, AWK, AMPL, and others, throughout the 20th century. Ten Nobel Prizes and five Turing Awards have been awarded for work completed at Bell Laboratories.