Wow on the tax part of the option for those who are doing well:
- Dividends and capital gains taxed liked ordinary income
- Federal rates 45 to 50%’
- take away deductions
So, once you throw in State income taxes (and for the really tax-persecuted, like Manhattanites, city taxes), you’d be facing a marginal total income tax rate of 60 to 65 percent.
Just wow. Actually, it’s hard to believe that some of the rich Dem backers, like Goldman’s Blankfein, or hedgefund liberal Tom Steyer, would be OK with this.
And I remember (not too long ago) of video a Will Smith being told that the taxes in France are 75%. Smith was flabbergasted and just said ‘well, God Bless America’. These Leftists really have NO IDEA how much everything would cost if they actually were running everything. And Bernie, Medicare for everyone??? Many of us have paid into Medicare for 50 years and are just now realizing how much we still have to pay for healthcare in our twilight years. Bernie’s ego is writing checks that he cannot fund.
One of the best reasons for high-school and college students to have jobs is to learn what it's like to have taxes taken out of your earnings.
I have a friend who was born & lived in Sweden.
The “Cradle to grave” health care there is very expensive in your paycheck.
He was to the point where 76% of his paycheck was taken before he saw a penny of it.
He called me from Sweden & asked if I had an empty bedroom he could rent. He was here within 3 weeks. He helped me on my ranch—help I didn’t really need—but wouldn’t tell him that. He filed for papers to become an American citizen & he has done exactly that. He says he will never go back to Sweden.