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A giant [citation required] is needed for your comment, but outside of that, taking this single claim at face value: I heard him in an interview that the u
by ctvo 11y ago
A giant [citation required] is needed for your comment, but outside of that, taking this single claim at face value:
I heard him in an interview that the upper federal tax bracket will be 55%. This combined with state and local taxes means it will be closer to 75% (not including sales tax and countless other taxes that are paid).
It's just like in Norway and Sweden (the countries he wants to emulate). On paper, it looks like a small amount. But when it actually comes down to it, it makes it nearly impossible for even things like startups to thrive.
I'm wondering how many startup founders and employees you think are anywhere near the top tax bracket and would be negatively impacted.