- Jann Wenner, media mogul and billionaire, told Joe Rogan that he believes that people who earn $20,000 should not pay any tax.
- The lowest tax rate for society’s super-rich should be 50%, and it should “escalate upward” from there.
- Rolling Stone’s founder, Wenner, commented on the “The Joe Rogan Experience” podcast.
Jann Wenner, an American media magnate, stated that rich individuals should pay at minimum a half-off tax rate. The higher their incomes, the more taxes they will have to pay.
Participating on the Joe Rogan Experience podcast,The cofounder of Rolling Stone magazine spoke out about his new book, “Like a Rolling Stone” and discussed tax rates and drug legalization.
Wenner stated that the easiest way for the US to reduce the income gap between the wealthy and the poor is to implement a fairer and better progressive tax system.
Wenner stated, “A poor person should not pay taxes if they make $20,000 per annum.” Rogan stated that someone with this income can “barely live on that amount.”
Wenner said that he has done precise math on taxation rates.
Wenner said, “Whereas those who make $100 million per year, let’s not forget $10 million per year, they should start paying a 50% rate and increase their income.”
For A single taxpayerThe top federal income tax rate in 2022 will be 37%. This excludes qualified dividends and long-term capital gains. An example: Someone earning between $10,276 – $41,775 would pay a rate 12% while someone earning between $41,776 – $89,075 would pay 22%. An individual earning more than $539901 will receive 37%.
Rogan asked the 76 year-old Wenner where the money would go.
“Education,” replied Wenner.
He stated about billionaire people that they would rather spend their money on “the purposes of society that are important to us, which is an educated, productive and employed population.”
