New York socialists calling for higher taxes aim to spread the tax net far beyond Wall Street, scooping up folks on Main Street—especially in the suburbs. Considering the left’s prior focus on “the 1%,” this is a major development. The top 1% of New Yorkers begins just south of $1 million in adjusted gross income. But the top 5% begins a little above $250,000—translating into married couples making $127,000 each. Continue reading this story on WSJ.com.

Source: Wall Street Journal October 02, 2023 23:54 UTC