Francesca Hong, the front-runner in Tuesday’s Democratic primary for Wisconsin governor, has made squeezing high earners a central theme of her campaign. Like most socialists, she is in denial about the costs and consequences of her proposals.
To fund “free” child care, state-run grocery stores and more health care subsidies — among other social spending — the 37-year-old state legislator plans to raise state income taxes
a full percentage point
on couples making at least $431,000 and individuals making more than $323,000. She would levy another 1 percent on “millionaires and large corporations,” bringing their top state tax rate to almost 9 percent.
I’d love to meet the type of person who thinks the tax increase would be worth the cost of moving if the state is going to be taking just another few thousand out of 323k. I’m sure they’re very very insightful and pleasant to talk to
(If that even really exists. Everyone who says this is just saying whatever until it happens and then they just stick around anyway)
There are plenty of people who think raising the marginal tax rate would cause that.
They’re wrong, though. The state would be taking another $0 out of that.
Now 623k? They’d take a few (3, specifically) out of that.
No one understands how tax brackets work. I have a ton of co-workers that won’t work overtime and have denied bonuses because they literally think that if they make $5k more, they’ll have to pay another $10k in taxes.