randomq - they probably don't report any income anyway, just taking loans on their investments which are held in irrevocable trust.
Some of that wealth though should take a hair cut through the increases in taxes on high-end property, sales of such homes, and capital gains (also an increased liquor tax to capture some of that Gatsby money, but may impact your randomqized trials as well ;) Not perfect by any means for those that have their dragon's hoard held in trust - a wealth tax on unrealized gains seems inevitable at some point.
Regardless, the progressives keep coming, fat cats beware.
https://www.hawaiitribune-herald.com/202...or-changes
"The Hawaii Tax Fairness Coalition is advocating for bills that would make major changes to the state’s income tax, capital gains tax, real estate sales tax and a tax on income for real estate investment trusts.
..
Members of the coalition, which was formed in 2017 and includes several nonprofit community organizations, want improvements in what they call one of the most regressive tax systems among states.
...
Younghee Overly, a representative of coalition member Indivisible Hawaii, said the share of a household’s income paid in Hawaii income taxes is 10% among the wealthiest 1% and 14% among the bottom 20% of earners.
...
“In Hawaii, we have a regressive tax system,” Overly said. “A progressive tax is a system where the tax rate increases as the taxable amount increases. So it’s based on the concept of ability to pay.”
...
“Let’s abandon illusions here,” Gill said. “We’re in a class war. … Obviously, wealthy people should pay their fair share of taxes. And we’re here today because they’re not.” (more details on the current legislation at link)
Some of that wealth though should take a hair cut through the increases in taxes on high-end property, sales of such homes, and capital gains (also an increased liquor tax to capture some of that Gatsby money, but may impact your randomqized trials as well ;) Not perfect by any means for those that have their dragon's hoard held in trust - a wealth tax on unrealized gains seems inevitable at some point.
Regardless, the progressives keep coming, fat cats beware.
https://www.hawaiitribune-herald.com/202...or-changes
"The Hawaii Tax Fairness Coalition is advocating for bills that would make major changes to the state’s income tax, capital gains tax, real estate sales tax and a tax on income for real estate investment trusts.
..
Members of the coalition, which was formed in 2017 and includes several nonprofit community organizations, want improvements in what they call one of the most regressive tax systems among states.
...
Younghee Overly, a representative of coalition member Indivisible Hawaii, said the share of a household’s income paid in Hawaii income taxes is 10% among the wealthiest 1% and 14% among the bottom 20% of earners.
...
“In Hawaii, we have a regressive tax system,” Overly said. “A progressive tax is a system where the tax rate increases as the taxable amount increases. So it’s based on the concept of ability to pay.”
...
“Let’s abandon illusions here,” Gill said. “We’re in a class war. … Obviously, wealthy people should pay their fair share of taxes. And we’re here today because they’re not.” (more details on the current legislation at link)