How about a flat tax rate for ALL residents of the country? And limit the power of the government to those activities that are expressed stated in the articles of foundation.
City government have exactly zero business being involved in this kind of scheme, and the taxpayers of the city, and soon the entire state have exactly no responsibility for give-away funding for a massive private profit enterprise like this. All of the second generation Ricketts should be lined up against a wall and shot for even asking for this hand-out, the father, Joe, is the only one worth keeping alive.
To be fair, I think its a big ask to expect him to raise a PAC of $10 million to have his sons shot. Fair perhaps but can you imagine the atmosphere at their Christmas dinners?
Flat taxes work when there is money to tax. Chasing after people on very low incomes costs more than the money raised so there must be a point at which tax starts to make sense. I agree my "Minimum Wage x 2" was pulled right out of thin air - lets agree that tax should be paid at the point where the cost of collection is less than the amount raised.
The same logic applies at the other end of the income scale. If a tax has the effect that you actually get less income from high earners, that tax is stupid. The UK government is retreating from its 50% tax for just that reason.
Ricketts is a special case though. He got rich in a tightly regulated market and he has not disavowed the way his family are trying for special tax favours. If he wants to spend $10 million of his own money that's fine. But there is no way that any firm he has any interest in should get $100 million. If you want to feed at the public trough, at least be grateful.