Watch the rich start leaving the country when the tax hikes begin. Same thing happened in France for the last 15 years. The super rich vote with their feet.
All those who are so gleeful over a Biden presidency should get ready for a significant tax hike — and not just for the super rich like they told you. How do you like Dem apples now?
What the Democrats are selling. Just tax the rich, and everything is free for everyone else. Double duh. But people fall for this.
All the liberals and “progressives” have the same solution for everything. Target the extremely rich — the 1 percenters — with much higher taxes. I was listening to one politician the other day recommend a tax rate of 80% for the people in the 1 percent income bracket, and she said it without missing a beat — unapologetically.
That would mean that the government would claim 4 out of every 5 dollars earned by a member of the 1 percent bracket. In effect, the super rich wouldn’t be working for their own self-interest anymore. They would be working for the self interest of the government.
The top 1 percent already pay 37.6% of all the taxes, i.e., they already pay way more taxes than one would expect. But according to these liberals and progressives, that isn’t nearly enough.