Anyone want to place bets as to what happens to this tax in 5 years?

Anyone want to place a bet as to what tax shelters these people will find to keep their AGI low?

If they don't move to New Jersey outright...

The gov't is like "That guy has more money than everybody else! Lets get some!!"

Yay lets tax people just because they have money!

Wealth redistribution should be a crime.

Yes, I have to say that arbitrarily taxing them just because they are successful in life is obscene.

The quote that they should pay their fair share is nuts. It is being suggested that they pay much more than their fair share.

The amount works out to $13,333 per year for each of the 75,000 or so that fall in the category. 35,000 of which don't even live in New York.

There are 8,274,527 people living in New York City. Spread it amongst them and that works out to $120 per year. If you add the people who don't live in NYC but who do work there then the $ amount per year per person would be lower still.

I am not saying that is the way to do it. Just pointing out that asking 75,000 people to pay for something they won't make much use of so that 8+ million other people can make use of it is hardly fair.

Yay let's penalize people because they weren't born into priviledge!



3/4 of a percent isn't much at all, and as dolly mentioned, I bet the majority of these millionaires will find tax shelter somehow.

How are the poor being penalized if the rich aren't taxed?

3/4 of a percent is still an unfair tax on people just because they are rich.

The idea that this will only affect millionaires and will give the poor and middle classes a benefit is only playing into the deTocquevillesque desire of the majority to reap benefits at the expense of someone else. It's the only way to make sure it passes. Watch for it to both become permanent and to expand downward toward those with lower incomes.

In 1911, the Federal Income Tax was sold as a tax on only the wealthiest of Americans.

Have you filed your return yet?