It is so funny watching the usual suspects drone on about how much money they're going to get out of the wealthy by raising income tax. They're so precious, it's unbelievable.That is about 10% higher and even that will be difficult to pass. Luckily the rich are so bloated and overly wealthy it will be more than you think LOL. Damn it. Well you should tell the GOP to raise it to 60 which is what the Democrats actually want.
1. There's just not that much income among the wealthy. Tax all their income and you won't get enough to run the government more than a few months, if that.
2. The wealthy didn't get that way being dumb. You try to tax their income and you might get away with it once. After that, it just disappears.
3. If you really want to tax the income of the wealthy, you're going to have to go after capital gains, and piss off a whole bunch of middle class grandma's living off of them.
What you really want is a wealth tax. Good luck getting that passed.