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This is full of crap and a schill for Barry et al.

The wealthy, some of whom I know, are going go back to their advisors and look fir opportunities to reduce their obligations to Fed.

Try taking a long term view on their portfolios buying muni’s and bonds not in America but in other countries that have better yields than our D ick head gubmint delivers.

Hell, the numbers on return are astounding. However only the real wealthy will be buying into as the requirement for entering first spends starts @ $100k and some require a million or more.

Further, if you’ve been for a few years you don’t actually own much as your homes, art, cars and kettles of physical gold and silver are held in trusts and the best part? Theyzzz dunn been paid off years ago.

No rent, no mortgage, no car payments and an emergency stash that is untraceable if it’s sold.

Their travel can be front loaded by purchasing extra hours on Netjet. So, instead of paying a million bucks to fly charter, they’ll simply spend an extra three or four million to get them through the next 4-6 years and they’ll take that against their earnings this year.

Then they will take big pile of cash they have been quietly saving in their rainy day stash and take more earnings this year to get them through the next few years.

Over simplification but, that’s about how it will go.

The government will never achieve their revenue goals because the wealthy will simply limit their income and even move to tax free bonds.

A big FU to the theives of DC.

If they trully need more revenues they need policies that will sour investment, creating jobs and start sticking it to China, forcing them to compete on a level field.

They will create more taxpayers and they could raise the tax thresholds on all income requiring more people to pay taxes and then raise their rates.