Lodiac said:
"Too right, Dave R. Makes me sick to hear people on ridiculous incomes complain about a tiny levy.
For one thing, the levy hasn't even been set in stone yet. For another, the levy would only cost someone on $200k a year an extra $500. More than fair, especially given that the rich usually manage to avoid tax anyway."
No Lodiac, you clearly do not understand levies. They apply to all of your taxable income. The widely touted 2% is actually $4000 for someone on $200K NOT $500 as you suggest.
If the top rate is increased from 45% to 47% then the cost is 2% of $20k i.e. $400.
So the levy isn't fair particularly as someone on $200K is in the 3% paying 25% of all income tax.
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