For Heaven's Sake...when are you going to stop Jumping Sharks, Curly? Google the U.S. tax rates
in the 1950's and 60's for Corporations and the Wealthiest among us, when our GDP was soaring...and Union Workers could afford Summer Vacation spots on the ocean shore or Lakes in the Mountains. Those rates were upwards of 90% for the very highest bracket.
Today...Mayor Mamdani is asking for a 2% raise in taxes for those making over $1M/yr...as shown below...not likely to force those taxpayers into begging for SNAP benefits.
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AI Overview
New York City Mayor Zohran Mamdani proposed a 2-percentage-point increase (from 3.88% to 5.88%) in the city personal income tax rate for individuals earning over $1 million per year.
• Rate Change: Moves the city income tax rate for this income bracket from 3.88% to 5.88% (an actual percentage increase of roughly 51% to 52% on that portion of the tax).
• Projected Revenue: The plan aims to generate approximately $3 billion to $4 billion annually to fund programs such as universal child care, affordable housing, and public transit.
• Scope: It is designed to target the top roughly 1% of households (about 34,000 filers) in the city.
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Now imagine if Everyone paid their "Fair Share"...more 'Customers' with more 'Cash' to spend...instead of hoarding it....maybe they could then afford higher education...and better jobs...allowing them to buy homes...and furniture, etc, etc.
Any idea on how that might improve our GDP?
It's not about "Envy"...it's about "Enlightened Self-Interest" and not being "Selfish".