re: #440 Gus 802

Let’s see. 5 percent of 1,000,000 dollars is 50,000 dollars. That’s 50K taken away from the GDP. By the time the Feds get done with it the return is what? 10% maybe — just a wild guess. But the full value is far less than 50K and probably less than half after you consider government inefficiency.

Then that 50,000 which goes away from discretionary spending by our citizens. That means no kitchen remodel or home addition which could have been there. Making a 1,000,000 per year isn’t exactly rich depending on current debt obligations.

It’s more misleading than that. They say “millionaire’s tax” but the surtax begins at 350,000 for couples or 280,000 individuals. That’s no millionaire. That captures most small business - the growth engines.