alt Hacker NewsEveryone loves deciding what their "fair share" of other people's net worth (not even income!) is.
Sorry, but the state just confiscating 5% of someone's net worth (unrealized or not) is absolute madness, and rightfully opens up questions about slippery slope, how "temporary" they claim this to be, and so on.
It's not surprising they are leaving the state or using their resources to try to stop it.
Replies
>but the state just confiscating 5% of someone's net worth (unrealized or not) is absolute madness
why? The federal government is taking around 22% from me this year and I'm in a low bracket. If I had the money from my last full time job in tech it'd be 24%. You're saying billionaires shouldn't pay the state they reside in 5% more?
Tanentially, that's only one bracket despite it being triple the salary. gotta love that part time minimum wage work in CA still pushes me that close to my financial peaks.
Your statement is ignoring the systematic growing inequality in the US between the ultra wealthy and everyone else. And the use of those funds to influence politics (because of Citizens United, etc) to create polices that benefit themselves - it is for the ultra wealthy a virtuous circle:
https://inequality.org/facts/wealth-inequality/
This is not a normal state of affairs.