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Question by : How much money would ending the tax cuts for the rich create?
And would this make an impact?

I have heard from the left that it will be hugely helpful, and I have heard from the right that it won’t make an impact because it will be such a small amount of money for the government and it’s the rich that put money into the economy. Can someone give me an unbiased answer or at least point me in the direction of good information? Thanks.

Best answer:

Answer by Bob F
It’s really impossible to give an answer with any certainty in economics models of that size.

Raising the income tax rates would probably add money to the government coffers short term.

However this is where it gets tricky.

Supply side economists will say that with a higher tax rate, people will spend less and therefore the economy will slow down.

But it’s not that simple. If all tax cuts were a good thing, we’d have a 0% tax rate. If all tax increases were a good thing, we’d have a 100% tax rate.

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Question by : How much money would I have to make per year to own a million home?
I’m wondering what type of people own these homes. Other than celebrities what occupations do these people have / where to they get the money from? I myself want to be an orthodontist whom make a decent amount of money but obviously still not enough to own a $ 30 million home.

Best answer:

Answer by Tom K
Celebrities, of course. People who get paid way too much money for what they do (professional athletes, record producers, movie producers, etc.), and people who own very large and successful companies. And oil tycoons.

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