Report: New York and California Implements 50% Top Tax Rate on Wealthy

[Actually6Foot3]

We get hit with a hard property tax though.

basically.

Businesses win. Citizens lose.

It's just another way to shift the tax burden to everyday citizens and away from rich corporations and those that run them. A tale as old as time.

 

[DEAD7]

Here's why Europe has mostly ditched wealth taxes over the last 25 years — even as Elizabeth Warren and Bernie Sanders seek them for the US

What the U.S. Can Learn From Wealth Taxes in the OECD
Democrats/liberals wont change this silly approach till they have to.
France did the same thing and repealed the wealth tax quickly when the rich began doing what everyone said they wouldn't do... move.



...what sucks is that the people at the bottom are the ones ultimately hurt by this progressive nonsense.

 

[NotAnFBIagent]

Getting strong armed out of half of what you earned off top

 

[Sonic Boom of the South]

New York and Cali are really dumb for doing this. Don't they realize when you higher the tax rates for the wealthy, it makes it worse for the Middle Class?

wtf kinda logic is this?

 

[SleezyBigSlim]

Here's why Europe has mostly ditched wealth taxes over the last 25 years — even as Elizabeth Warren and Bernie Sanders seek them for the US

What the U.S. Can Learn From Wealth Taxes in the OECD
Democrats/liberals wont change this silly approach till they have to.
France did the same thing and repealed the wealth tax quickly when the rich began doing what everyone said they wouldn't do... move.



...what sucks it that the people at the bottom are the ones ultimately hurt by this progressive nonsense.

You're talking about a state not a country tho, the US gives states power for this very reason. Dont like a state move to another that suits you or have laws/tax code that's suits you.

 

[DEAD7]

You're talking about a state not a country tho, the US gives states power for this very reason. Dont like a state move to another that suits you or have laws/tax code that's suits you.

Agreed... but this hurts the poor people of that state if the tax base leaves. Same principle applies.

 

[loyola llothta]

Facts. Loopholes

 

[Cat piss martini]

 

[UpAndComing]

wtf kinda logic is this?

Refer to this post

Here's why Europe has mostly ditched wealth taxes over the last 25 years — even as Elizabeth Warren and Bernie Sanders seek them for the US

What the U.S. Can Learn From Wealth Taxes in the OECD
Democrats/liberals wont change this silly approach till they have to.
France did the same thing and repealed the wealth tax quickly when the rich began doing what everyone said they wouldn't do... move.



...what sucks is that the people at the bottom are the ones ultimately hurt by this progressive nonsense.

 

[MikelArteta]

But woe to you who are rich, for you have received your consolation.

 

[BigMoneyGrip]

Rich won’t miss it they will just retain residents outside of NY as their primary and still live in NY.. also they will get huge write offs come tax time..

 

[Sonic Boom of the South]

Refer to this post

And that proves nothing
And is not even true

 

[UberEatsDriver]

What’s the problem? Why are people who are not rich the most offended by this? The tax system is part of the reason the middle class and Lower class struggle to climb the ladder.


The only thing I don’t want taxed to death are businesses.

 

[UberEatsDriver]

Rich won’t miss it they will just retain residents outside of NY as their primary and still live in NY.. also they will get huge write offs come tax time..

This also! Rich will just use a loophole

 

[UberEatsDriver]

Stupid. If you work your way up to that salary you should be able to benefit from it instead of paying more tax.

paying more taxes isn’t hurting your pockets or preventing you from buying a lambo