I would say rhetorically that ex post facto (am i using that right? kind of like caused by definition) taxes on the ultra wealthy that don't achieve that aren't actually taxes that target the ultra wealthy, but rather just marketing.
I think Biden has tried get ahead of that issue with his no higher taxes on 400k pledge. We'll wait to see the reality though.
Context: According to [0], $400,000 is in the top 1% of individual income across the US. It's in the top 3% of household income within California [1] and top 2% in SF/Oakland/Fremont [2].
Dual tech worker couples making more than $400k in Silicon Valley are wealthy, and always have been. There's no suddenly about it.
They aren't ultrawealthy members of the capitalist class, sure. But they are definitely wealthy, and pretending that they aren't is just phenomenally out of touch.
I don’t disagree but plenty of people I know who voted for Biden didn’t think it applied to them.
$400k per year barely lets you buy a home in the Bay Area.
And regardless, what makes you think they’ll stop at $400k? That’s the point. Eventually a tax bill gets passed some couple making $150k need to “pay their fair share”.
