I think Biden has tried get ahead of that issue with his no higher taxes on 400k pledge. We'll wait to see the reality though.
Suddenly all those dual tech worker couples in Silicon Valley are wealthy!
They aren't ultrawealthy members of the capitalist class, sure. But they are definitely wealthy, and pretending that they aren't is just phenomenally out of touch.
$400k per year barely lets you buy a home in the Bay Area.
And regardless, what makes you think they’ll stop at $400k? That’s the point. Eventually a tax bill gets passed some couple making $150k need to “pay their fair share”.
If you're talking about buying a house anywhere, you're already outside the "I'm poor" status.
Train for 10 years to be a doctor to make $400k a year for 10 years at 50% taxes or just work for 20 years at 150k at 30%?
0: https://dqydj.com/income-percentile-calculator/
1: https://dqydj.com/income-percentile-by-state-calculator/
2: https://dqydj.com/2018-income-percentile-by-city-calculator/
It’s no longer a tax on the rich, it’s just a tax on successful upper middle class.