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The rich convinced us that taxing them is too complicated but everyday people can be taxed pretty easily
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this post was submitted on 24 May 2026
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They're right: it is pretty complicated to tax the rich using the current tax code. And there's a very good reason for that: they made sure it's as complicated as possible.
I think the idea that taxing the rich is difficult or our tax code is too complicated feeds into the narrative around the problem being too hard to solve. I think the reality is more straightforward:
Bring back the previous top tax bracket of 39% that Republicans did away with. That will bring in a significant revenue.
Raise or add the top brackets on the capital gains taxes.
Add a new top tax bracket of you want to raise more revenue, e.g. 46% above X millions.
When you look at reports by the congressional budget office or independent budget groups, most of the other proposals are noise in the grand scheme of things. Even the buy, borrow, die strategy that gets a lot of airtime (because it rightfully violates most people's sense of fair play) only really accounts for something like 2% of the funds used by the ultra wealthy.
Most of the things like wealth taxes would require more complex legislation and be treated by the courts, certainly going to the supreme court. But the above three bullets would meaningfully raise revenues, are simple in terms of legislation, and have clear statutory authority and case law on their side.
The only thing hard is electing enough people who actually care about the budget and the people.
Forget 39%. We have greater national debt as a percentage of GDP than we did in 1944. We need to reinstitute the tax brackets from then until 1965, which had a top rate of 90%. There are reasons we had a middle class back then, and this is one of them.
Income tax may be a solution to government revenue, but it's not a solution to inequality.
Capital accumulates exponentially, and if you don't address that exponential growth, then there will be ludicrously wealthy people, social immobility, and all the problems we have now. Tax wealth.
Of course it will be complicated. Of course there will be court cases. All of that is true of the current system. We can't get to a working system if we don't even start. Tax wealth.
Capital gains should just be taxed as regular income instead of having a special rate.
I think Denmark does it like that, but I haven’t verified with any Danes yet.
How difficult would it be to enact legislation to prevent using loans against stock/assets and avoiding income/capital gains tax? Something like "if you have things worth money you need to sell them before taking a frivolous loan."? Idk I just hate that loophole
Very hard, since you can just take the loan in a different country, even in USD.
Wealth tax is probably much easier.