Nobody is making $50M a year in W2 income. Maybe a couple pro athletes? But if you're making $50M a year it's all stock and that doesn't fall under this, and on

Nobody is making $50M a year in W2 income. Maybe a couple pro athletes? But if you're making $50M a year it's all stock and that doesn't fall under this, and once you have enough of it there are ways to actually realize it as income and never pay taxes on it. This is not about the money at all, it's about getting an income tax on the books. In a year or two they'll lower the limit a few hundred grand. They're start removing exemptions, they'll add more brackets, and before you know it Washington will have California's tax structure and the people who live there will not be any better for it. But the government will be bigger, and the people will be poorer.