A Thane's Taxes...

[jsburbidge]

Ripped from the headlines tonight: the Biden tax proposals include a 3% surtax on anyone earning more than 5 million (USD) per year.

There is an argument, if not for Commonweal levels of, um, levies, then at least for the pre-Thatcher UK where the top brackets were in the 99% category...

Comments

[ndrosen]

There is an argument that such high income tax rates will raise very little revenue; of course, some people will support them out of envy.