>>> Progressive tax on incomes >$1,000,000. This won't slow anyone down except the ultra-wealthy.
What do you think happens to anybody, let alone people who are really rich when you continually increase their taxes? They stop spending, they start hiding their money, they it send it to foreign countries, they will find ways around the taxes you're trying to levy against them.
It doesn't matter who you tax, they're going to try and avoid paying taxes regardless. People have this notion that since they're super wealthy, they have money to burn - which is hardly the case. Most people making over $1 million per year live a lifestyle that's congruent to the money they're making. You think those people are thinking , "Aye, it's only 10K more to the governmnet, no big deal?", right?. Hardly. They want to hold onto their money just as much as the next guy.
What do you think happens to anybody, let alone people who are really rich when you continually increase their taxes? They stop spending, they start hiding their money, they it send it to foreign countries, they will find ways around the taxes you're trying to levy against them.
It doesn't matter who you tax, they're going to try and avoid paying taxes regardless. People have this notion that since they're super wealthy, they have money to burn - which is hardly the case. Most people making over $1 million per year live a lifestyle that's congruent to the money they're making. You think those people are thinking , "Aye, it's only 10K more to the governmnet, no big deal?", right?. Hardly. They want to hold onto their money just as much as the next guy.