I was shocked by something I heard from one of my friend’s sons the other day. He is a college graduate with a business degree and fortunately has a job. We were all talking about the fiscal cliff and how it would affect people making over $250K a year. His reaction to the top rate rising to 39% along with the California State tax increase due to Proposition 30 prompted him to say, “Whew, I think I dodged a bullet! I was up for a promotion with a pay raise but someone else got it. I’m pretty sure my...
The "wealthy" already know how to avoid this tax increase, they just stop earning anything. They simply live off of their accrued wealth. Now those poor suckers who have busted their butts to get through medical or law school and are working 60-80+ hours a week to get ahead on the other hand are screwed. This isn't a tax on the "wealthy" it's a tax on those trying to become wealthy. If you REALLY want to hit the wealthy with a tax, put forth a 10% annual property tax on all assets over $10,000,000 including trust funds but excluding actual production and transportation facilities (privately owned farms, factories and trucking companies). When Buffet, Gates, Pelosi, Kerry, Rockefeller, Michael Mooreon and the liberal leftists in Hollywierd
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