Net worth narrows your target for this supplemental tax to those around age 55 who will have paid off their 30-yr mortgages - those past their peak earning years, least able to absorb a thousand dollar hit...
Every day workers show up at thousands of McDonald’s to work, few of who will ever see half of $1.7 million.
I'm sure there are, but the question they have to ask themselves is, why am I here after 6 months or a year? Why haven't I done something to improve my earnings/social standing? Why am I so comfortable "settling" for a minimum-wage manual labor boring as hell job? Why haven't I exploited my own talents? Or moved to where there is more opportunity?
In America today, every single person who is not severely handicapped by health or age has the opportunity make a decent living. Consider the young autistic man who turned his love for crazy socks into a multi-million dollar mail-order enterprise. Or those who relocated to shale oil country, clerical and grunts, and are banking $100K and more? There are people who make extra money (and, sometimes, valuable contacts) delivering groceries or training cats and go on to create a fulltime job for themselves. The secretary who goes into real estate or heavy equipment sales. The carpenter who free-lanced part time as a handyman and now owns his own custom shop. There will always be poor, those with poor health, poor judgement and poor iq-s. But most so-called poor are just 'settled,' and like the grasshopper to the ant, expect those who spent their lives working harder to set their tables.
“Net worth narrows your target for this supplemental tax to those around age 55 who will have paid off their 30-yr mortgages - those past their peak earning years, least able to absorb a thousand dollar hit... “
The exemption goes up by age.
Two 55-year olds get an $11,000 tax exemption together, $5,500 each.
People with a paid up $500,000 house and $150,000 in common stock can pay a $1,000 tax.