this post was submitted on 03 Jul 2023
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Yes, but people get paid income in wages, so it is still relevant. That some of them turn income into appreciating assets, or wealth, is a separate issue.
Sure, I'm not arguing against the graph or that it is relevant. Just a friendly (dystopian) reminder that the top 1% of income earners don't really rely on income. They make most of their money investing capital or company profits in ways where they can avoid paying income tax.
Yeah, it's just interesting to see income for once, the wealth disparity is often discussed.
I'm firmly in favour of a Robin Hood tax to make asset wealth pay its way
https://en.wikipedia.org/wiki/Robin_Hood_tax