Coming to philadelphia...a fair tax

Philadelphia PA

Description

New York’s Hot Export: People Some 65,000 families pay half the city’s income taxes, but they’re fleeing high taxes and disorder It is likely the top federal rate on capital gains will increase to 40%, and the combined New York state and city rate may reach 15%. Should New York enact a 2% wealth tax, a wealthy New Yorker could wind up paying a 77% tax on short-term stock market profits. And that’s a conservative estimate: It assumes that stocks return 9% a year. If the return is 4.4% or less, the tax would be more than 100%. Now we know what a “fair tax” looks like. I hope all of you BLUE voters are happy with a possible 100% tax