It is important to point out that under Murray’s proposal, which is outlined fully in his book In Our Hands: A Plan To Replace The Welfare State, after someone’s total annual income reached $25,000 a 20 percent surtax tax would be imposed on “incremental earned income,” capped at $5,000 once someone earns $50,000 a year.
OK, not uncle Milty, some other libertarian. Still, a tax that stops at $50K is hard to call something other than regressive.
