This week’s televised debate between the Democratic gubernatorial candidates did not have any questions about healthcare. With five candidates and only 60 minutes, some topics couldn’t get covered. And yet there was time for the moderators to ask about all those oppressed millionaires…
“We want to know what you define as rich. What is the specific income level where taxes would go up and what percentage would that top tax bracket pay? What if all of the millionaires leave the state and go to a state near us that has a flat tax or a lower tax rate and all of (your) plans collapse?”
The candidates all pointed to annual incomes of $1 million for some fairly modest increase in state income taxes, maybe one percent. Keep in mind that the higher rate only applies to income above $1 million, so someone’s millionth dollar stays taxed at 7.65% while everything more than that would be taxed at 8.65%.
They’re going to be criticized by Republicans as “pro-tax” anyway, so what do you think they should have said? Let’s be bold and raise the bar two percent.
Click your choice in the box above and feel free to say more in the comment box—and leave your first name and hometown so we can share your answer in our next newsletter.
