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Originally Posted by NCB
What will the Democrats define as "rich" now that they have power? They desire to raise taxes on the rich, but how will they define it? 150,000 for married coups? 80,000 for single?
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Based on net worth, the top 1% would have to be millionaires. There are 3 million people worth over 1 million in this country. They usually have families and such, so there are a few more people who might be in that 1% by association.
The democratic congressman in my district (who lost) had a plan to tax people based on their net worth. It would make it harder to accumulate tons of wealth, but easier to get to a high level of wealth.