One Top Taxpayer Moved, and New Jersey Shuddered

[Valmy]

So Tim, income inequality is the problem here and not a tax structure that relies on screwing the rich?

What sort of tax structure would involve somebody who makes 6 billion dollars not paying millions in taxes?

The magical mystery tax code.

[Valmy]

Seize the assets of the rich and redistribute them! Viva la revolution!

Only those who can be demonstrated to be enemies of the people in a fair revolutionary tribunal

[derspiess]

So Tim, income inequality is the problem here and not a tax structure that relies on screwing the rich?

What sort of tax structure would involve somebody who makes 6 billion dollars not paying millions in taxes?

The magical mystery tax code.

A state 9% top rate is pretty shitty.

[DGuller]

A state 9% top rate is pretty shitty.

Civilization costs money.

[alfred russel]

A state 9% top rate is pretty shitty.

Civilization costs money.

Apparently not in Florida.

[viper37]

So Tim, income inequality is the problem here and not a tax structure that relies on screwing the rich?

What sort of tax structure would involve somebody who makes 6 billion dollars not paying millions in taxes?

The magical mystery tax code.

0% income tax rate like Florida, if you define "taxes" as only income tax.
I suspect Florida has higher property taxes, maybe?

[viper37]

So Tim, income inequality is the problem here and not a tax structure that relies on screwing the rich?

What sort of tax structure would involve somebody who makes 6 billion dollars not paying millions in taxes?

The magical mystery tax code.

A state 9% top rate is pretty shitty.

how about 55%?

[The Brain]

So Tim, income inequality is the problem here and not a tax structure that relies on screwing the rich?

What sort of tax structure would involve somebody who makes 6 billion dollars not paying millions in taxes?

The magical mystery tax code.

The most equal system: everyone pays exactly the same amount.

[derspiess]

how about 55%?

Keep in mind we're talking state income tax rate and not federal, but yeah

[crazy canuck]

So Tim, income inequality is the problem here and not a tax structure that relies on screwing the rich?

You don't see a connection between a tax policy and income inequality?

[alfred russel]

So Tim, income inequality is the problem here and not a tax structure that relies on screwing the rich?

What sort of tax structure would involve somebody who makes 6 billion dollars not paying millions in taxes?

The magical mystery tax code.

A state 9% top rate is pretty shitty.

how about 55%?

The state 9% rate is in addition to a marginal federal rate of 39.6% and a marginal medicare rate of 2.35%.

[The Brain]

Da feds are bleeding you dry.

[viper37]

So Tim, income inequality is the problem here and not a tax structure that relies on screwing the rich?

What sort of tax structure would involve somebody who makes 6 billion dollars not paying millions in taxes?

The magical mystery tax code.

A state 9% top rate is pretty shitty.

how about 55%?

The state 9% rate is in addition to a marginal federal rate of 39.6% and a marginal medicare rate of 2.35%.

Aren't state income tax deduced from the Federal income tax?

[The Minsky Moment]

Correct from Vipes.

Plus those are all rates on taxable ordinary income.  No self-respecting billionaire would be earning something as mundane as that.

[Hamilcar]

Soon: New Jersey to demand labor instead of gold for tax burden, forces prominent hedge fund manager to run state pension fund for 2 months per year.