layman_economics on Nostr: In practice, the rich have the resources to lobby politicians so there will be some ...

In practice, the rich have the resources to lobby politicians so there will be some 'loophole' in the tax code. They can also hire accountants to exploit said 'loophole'.

That way, they won't even have to pay taxes at such a progressive rate in the first place!

So, the idea of progressive tax rate doesn't actually affect the very rich in any significant way!