Yesterday I saw a video of JP Morgan CEO Jamie Dimon recommending taxing the wealthy more to help the poor so that they can have better schools, health care, and so on.
But who exactly does he mean? Who are “The Wealthy?”
Him, of course. But who else?
Your doctor? Your lawyer? Your dentist? Your plumber? You?
I explore who is or who should be described as “wealthy” both logically and morally, and for tax and policy purposes.
How would you define who is “wealthy?” Someone who makes $100,000 a year? $200,000 a year? $400,000 a year? A million?
Or does annual income matter less than net worth and assets?
What if your salary is $1 a year but you hold $1 billion in stock? Who’s wealthier, you or the lawyer making $500,000 a year?
Should the lawyer who makes $200,000 a year be taxed as much as Jeff Bezos? Should the couple working 80 hours a week and making $400,000 a year combined be taxed like a billionaire who never has to work again? Should we treat income earners of any kind like those with high net worth and assets?
Here is the video in question:
Symposium 
I think $400,000 per year has been the general standard of “ wealthy “ since the Obama years. But taxing 400k the same as Bezos would be a tad regressive , don’t you think?
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Yes. A “tad.” :^)
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Except I don’t believe in regressive, or progressive taxes. I believe in flat taxes. If you make ten times more, you pay ten times more, not 20 times more. If you make 100 times more, you pay 100 times more.
Simple, fair, and logical.
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