[Reno89519]

2% tax increase does all this?!

[reg45]

If you earn 10% on your wealth and your income is taxed at 70% then that’s 7% of your wealth; add a 2% wealth tax and that’s the equivalent of a 90% income tax rate.

If you only earn 5% on your wealth and your income is taxed at 70% then that is 3.5% of your wealth; add a 2% wealth tax and that’s the equivalent of a 110% income tax rate.

If you only earn 2% on your wealth and your income is taxed at 70% then that is 1.4% of your wealth; add a 2% wealth tax and that’s the equivalent of a 170% income tax rate.