Why not 85% or 90%?
How about 110%?
Why not 85% or 90%?The article makes clear that a New York resident has to pay high state and local taxes, so the bottom-line tax rate for a NYC wealthy person would be at 87%. Glad AOC isn't representing me.
She says when you earn your “10 millionth dollar,” the margin kicks in. Does Maxine Waters know about this, as one who could become the latest billionaire after a month or two chairing the House finance and banking committee?
As the old joke goes...”A hog that good you don’t want to eat him all at one time.”
Don’t worry, they will be back for more!
I’d suggest 200%. Make them pay for their past crimes!
It has been tried for example in England. See https://en.m.wikipedia.org/wiki/History_of_taxation_in_the_United_Kingdom Led to a lot of business, brain, and wealth fleeing. They are arguably still have not fully recovered even decades later.
Hell, why not 99.999% income tax, sweets? Heck, why not 105%?