• Pickle_Jr@lemmy.dbzer0.com
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    1 year ago

    Typically, when people say tax the high wage earners, they aren’t talking about your average person even in high COL areas.

    I can’t speak for what exactly OP was envisioning, but I generally agree with the comment. In my mind, the tax wouldn’t apply to anybody making less than $500k a year (or $1mil if filing jointly).

    If you’re making that much money… you don’t have my sympathy with taxes. I have family in the SF area, that would be a life changing amount for them.

    • Wrench@lemmy.world
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      1 year ago

      The current wage cap is $160k

      That’s not poor in CA, but that’s still struggling to own modest property territory.

      The problem with federal wage taxes is that it doesn’t account for cost of living. $80k is very comfortable in some areas of the country, and renting a room and living frugally in another.

      • June@lemm.ee
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        1 year ago

        im with you that that wage cap is too low. But I think it should also be progressive and cut off at like 250k in today’s dollars.