Posted on 10/25/2021 7:15:29 AM PDT by karpov
I think you stated it perfectly.
Where you and I differ is that this law only applies to people making 100,000,000 annually. So the incremental tax rate would not change.
I agree that this is a stupid—and probably unconstitutional—”law.” I don’t think it would last 90 days before an injunction.
Wealth taxes are pretty stupid once you get past the “lets eat the rich” BS.
And the original income tax was only to be on the top few percent.
If this gets implemented, it will trickle down to lower income levels in a few years.
I agree.
Very little in the tax code or budgets are every changed. Especially when they don’t work.
I always thought that they should write into every law what they were “expecting.” When I would promote capital spending at my job, I was always expected to define success—and it ALWAYs came up during my budget reviews.
It made us brutal when we would make cuts. If the plan did not work—gut it and start over. And everyone knew whether it was “working” or not.
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