Although this law as it stands will currently affect only about 7000 people, the fear is that they will eventually use this as a foot in the door to implement a back door income tax for the middle class. A state income tax is expressly forbidden in our state constitution.
Although this law as it stands will currently affect only about 7000 people, the fear is that they will eventually use this as a foot in the door to implement a back door income tax for the middle class. A state income tax is expressly forbidden in our state constitution.
They always do. Inflation is the main way, although it's a surprisingly long game. Today 250k is a rich man's yearly profit. Tomorrow, 250k buys you a Honda Civic.
They always do. Inflation is the main way, although it's a surprisingly long game. Today 250k is a rich man's yearly profit. Tomorrow, 250k buys you a Honda Civic.
A likely scenario.
Plus: anybody wealthy has excellent accountants, who can make a loss a gain and dodge this bullet.. also,
A likely scenario.
Plus: anybody wealthy has excellent accountants, who can make a loss a gain and dodge this bullet.. also,
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