Opinion of Bernie's Income Tax Plan?

[Torie]

The light blue line is Bernie's payroll tax?  One of the worst ideas every conceived, is having the payroll tax not subject to a cap. The result, is that earned income is taxed at a much higher rate than unearned income. That's insane. The payroll tax is designed to fund future retirement benefits. Making into functionally into an income tax, has the result I described. The rates are indeed way too high in any event. The black market economy will boom, and many higher income folks will move elsewhere over the decades to other locales in the Anglophone zone.