If you set a number like 5 million it will eventually reach the middle class. For example, the AMT was created to tax billionaires, but I actually had to pay it one year because I sold some assets. Now middle class people have to potentially do two calculations to see if AMT applies (when you have a one time sale with a capital gain)
Instead of making lots of new rules at random cutoffs, why not just fix the rules we already have?
Repeal the stepped up basis for inheritance, repeal caps on payroll taxes, etc
That's not true, considering 60% home ownership. How can most homes be owned by billionaires when most people own their homes. Are most people billionaires?
It does offer value. It can code up some simple functions that I would need to spend actual time to write. As an experienced coder, I know what to ask for to get decent results that save me time
Well, current electric helicopters don't have a long range. But that's a 2026 problem, when battery tech improves they can be made just as good. Actually, better, since electric helicopters are quieter
If you set a number like 5 million it will eventually reach the middle class. For example, the AMT was created to tax billionaires, but I actually had to pay it one year because I sold some assets. Now middle class people have to potentially do two calculations to see if AMT applies (when you have a one time sale with a capital gain)
Instead of making lots of new rules at random cutoffs, why not just fix the rules we already have?
Repeal the stepped up basis for inheritance, repeal caps on payroll taxes, etc