Oh great, a “progressive” surtax. Let’s review history for a minute. The high marginal tax rates of the 50’s led to businesses attracting talent by offering nontaxable benefits, like health insurance. Which removed smart shopper/free market link between the customer and the provider, which led to the out of control costs of medical care we enjoy today. The joy of unintended consequences. Government plans to solve this problem by raising marginal tax rates, to generate revenue to pay for costs that are too high because the marginal rates were too high. AAHHHHHHHHH! What distortions will this new round of taxes cause?
Exactly. It worked so well for California. Whoops...
New York? Whoops...