I don't think we're at extinction-level event for the Dem elites yet. They're still going to fight to their last breath for the next two to three years. Hong winning is a step in the right direction, but there are still plenty of secure & geriatric elites clinging to political power for the foreseeable future.
Her site mentions that a 17% tax on everything over a million dollars would lower property taxes by 44%. 17% is silly.
A 1% increase to 8.85% as a top rate seems reasonable. She may want to update her site. I prioritize accuracy over my political leanings!
"Here’s how it would work: We stop squeezing working families and ask the extremely wealthy and large corporations to pay their fair share. Fran’s plan adds a small 1% increase to the top tax bracket (for couples making over $431,000 or individuals making over $323,000) and creates a new tax bracket for millionaires and large corporations that kicks in on the millionth dollar of income or profit. The Department of Revenue estimates that if millionaires and corporations chip in 17 cents out of every dollar earned after that first million, it could lower all our property taxes by 44%."
"Hong answered with specifics that she would increase the millionaire tax rate to 8.85 percent."
Millionaire tax rate meaning the marginal rate on someone making over $1 million per year in income?
I believe so yes
I too am rooting for the asteroid. Democratic socialism wrought by FDR is under seige. Time for a refresh and update.
I don't think we're at extinction-level event for the Dem elites yet. They're still going to fight to their last breath for the next two to three years. Hong winning is a step in the right direction, but there are still plenty of secure & geriatric elites clinging to political power for the foreseeable future.
oh this is gonna take years but i think they're playing out the end game
Her site mentions that a 17% tax on everything over a million dollars would lower property taxes by 44%. 17% is silly.
A 1% increase to 8.85% as a top rate seems reasonable. She may want to update her site. I prioritize accuracy over my political leanings!
"Here’s how it would work: We stop squeezing working families and ask the extremely wealthy and large corporations to pay their fair share. Fran’s plan adds a small 1% increase to the top tax bracket (for couples making over $431,000 or individuals making over $323,000) and creates a new tax bracket for millionaires and large corporations that kicks in on the millionth dollar of income or profit. The Department of Revenue estimates that if millionaires and corporations chip in 17 cents out of every dollar earned after that first million, it could lower all our property taxes by 44%."