Some Democrats are talking about much higher tax rates for the very wealthy. One would think that this could generate some ill-will among people who make big money in sports and entertainment industries, and that such ill-will would be bad press for them. Athletes, actors, and singers suddenly realising that 70-80% of their money is going to go to the government may not be such strong Democratic constituencies. When tax rates were last that high, before Reagan, athletes didn't make anywhere near as much money.
Don't be silly. That's not how shakedowns work. You set the tax rates high, but create carveouts for your friends. That way they are not only relieved and happy with you, but even more dependent on you remaining in power. That's what happened to a lot of people with the Affordable Care Act. Remember when the Beatles were conservatives?
I could deal with that if all Congressmen/women were taxed at high rates, and upper-level government bureaucrats, too.
ReplyDeleteI could deal with that if all Congressmen/women were taxed at high rates, and upper-level government bureaucrats, too.
ReplyDeleteRecall that Congress voted to exempt itself from Obamacare.