Not quite. If you were to make $2 million, the second million would be taxed at 75%. None of your income would get taxed at 75% if your total income was $1 million. But, I agree that it's a bad idea.
Well lets expand on that notion.. actually the first million would be 40%, the second million would be 75%.
So if someone earned $2M their take home would be.. $850k ($600k + $250k).
“The media's the most powerful entity on earth. They have the power to make the innocent guilty and to make the guilty innocent, and that's power. Because they control the minds of the masses." -Malcolm X-
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