Washington Taxed Its Millionaires. Now the Rich Want It Repealed

7 pointsposted 9 hours ago
by JumpCrisscross

6 Comments

wyoming3

7 hours ago

Sadly due to inflation, we need to stop using "millionaire" as a synonym for "rich".

1 in 5 households in America are millionaires.

dlcarrier

7 hours ago

Especially so, if you count unrealized gains. My house has tripled in value since I bought it, but it hasn't made me any richer.

MiroslavPokorny

4 hours ago

Thats nothing, everyone in Zimbabwe is a zillionaire.

Erem

6 hours ago

This is a tax on annual income over $1M, not in net worth in the millions

mpalmer

8 hours ago

    "This has gone from one of the most attractive places to start a business to the least attractive," said Brian Heywood, a hedge fund millionaire whose political action committee collected more than 500,000 signatures to place the tax repeal on the ballot.
Keep in mind that a person who can accumulate ~3 million dollars - and invest it well - is well on their way to financial independence; their money itself will make them enough to last the rest of their life.

Sounds like in order to help Brian put things in perspective, we need to tax him and other millionaires everywhere else too.