@financialsamura In most smaller cities/states costs are 60% lower for taxes/private school/housing while income is only 20% less. I would say that you are on par with a family making $200K in Atlanta.
@Petierla@Sierra_rak I really hope that this isn't want the lemmings think they are getting when they vote for socialists. Their ignorance will destroy everything and then they will say, we didn't vote for this.
It is actually much worse. It is a wealth tax. Same thing they want to do to billionaires. Imagine having to pay $25K per year (5%) on your $500K house. Even worse, imagine a politician saying that people with a $500K net worth don't pay their fair share of taxes. They are probably in the 24% marginal bracket with incomes of $150K per year. So to make a point, politicians say their $15,340 in income tax is a 3% tax rate (using net worth) and then comparing that to the income tax rate paid by everyone else. So dishonest.