Wednesday, April 15, 2009
Tax Plans Redefine 'Rich' - WSJ.com
Being treated (taxed) like a millionaire is one thing.
Actually becoming one is becoming extremely unlikely...
Actually becoming one is becoming extremely unlikely...
In the Wall Street Journal, William McGurn explains:
"There's only one catch. You're not actually going to be bringing in a million-dollar income. But the tax man is going to treat you just as though you did.
That's the message coming out of Albany, N.Y., where a newly ascendant Democratic majority led by Assembly Speaker Sheldon Silver forced a deal with the Democratic governor to impose a new 'millionaires' tax.' The beauty is that to pay this tax, you won't have to make anywhere near a million dollars. If you make even $300,000 a year, the cash-strapped Empire State will consider you a millionaire."
