Remember when the left wanted to tax the rich? In liberal states, they are redefining rich downward– anyone making $125,000 a year will be taxed a state rate of 9.9% in Oregon. New York is going after those who make more than $125,000. Washington is adding wealth taxes to an ever lower amount of income.
Now they are even talking about stealing 5% of someone’s total net worth- on top of all of the other taxes.
Here is what Peter Schiff had to say about that, and it’s one of my favorite quotes:
If you tax 70% of what I make above a certain amount, what I am going to do once I hit that amount is simply take the rest of the year off, and furlough all of my employees. See you in February.
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