Trust me, the “threshold” will be much lower than this.
New York is the place to be, for being robbed, killed or harmed. No wonder why the Douglass left for HOOTERVILLE.
Why do rich people of power have to equate themselves with financial assets to be secure? There is so much more than just money. They are defining wealth, not rich. They are so small in life.
wy69
“More than 168,000 New York state and local government employees were paid more than $127,000”
Wow!, no wonder they are broke.
To a Leftist, rich is defined as anyone who has more money than they do.
If the NY court is successful in redefining how taxes are collected by making the ‘assessed value’, (determined by the City and State with no actual appraisal valuation) equal to the fair market value, then they can lower the tax rate drastically, but increasing the values exponentially, so that taxes will be raised but the claim will be that they ‘lowered’ taxes. Real Estate taxes have always been political, especially in New York.
They can always find someone worse off than you to justify taking everything you have.
To a socialist, a rich person is anyone making more money than they do. A poor person is anyone making less. It’s a sliding scale based on your financial position. That’s part of how socialists create class envy.
The “Rich” are all those not poor.
You know you’re “rich” when you can stop going by the name “Sandy” and you can quit your job as a waitress at the taco and tequila shack.
When you list your boyfriend as your spouse, so taxpayers will pay for his travel expenses... that’s rich.
“AOC Redefines the Term ‘Rich’”
AOC Redefines the Term ‘Bitch’
There, fixed it
The IRA passed last year included $45B ($450B over the next decade*) in tax increases but federal revenue fell 20% the first two quarters 2023. Taxes have consequences.
* https://www.whitehouse.gov/briefing-room/statements-releases/2023/08/16/fact-sheet-one-year-in-president-bidens-inflation-reduction-act-is-driving-historic-climate-action-and-investing-in-america-to-create-good-paying-jobs-and-reduce-costs/
They’re running out of money b/c so many of the “rich” that they’ve taxed to death have moved to Florida and other more tax-friendly states.
She won’t stop at 5%, as the money dwindles, that 5% will become 10% and then 20%.
Someone’s got to pay for the 100,000+ illegals - with more coming - food, housing, medical care, schooling, etc.
Income wise, the top 5% is roughly $330,000+ according to Investopdia.
When many of the now top 5% leave the state, the new top 5% will average far less income but will then be subject to the higher tax rate. Count on it.