LogFAQs > #900402114

Also, I quite dislike putting such a high tax amount on a random and arbitrary number (like 120k in the case of this topic).

Governments are incredibly slow to update things like this, and there's no way the number would get updated fast enough to actually reflect reality.

The only way I'd even consider something like this is if a study was done to find the perfect number based on a variety of factors, that number was then automatically indexed to inflation each year, and was subject to a review via new study every 5 years. Basically to make sure that the number makes sense, and the only people impacted by it are the people unlikely to notice it.

I still wouldn't like it though as there would also need to be concessions done on a city by city basis. 120k per year where I live is a pretty darn good living. In Vancouver that gets you a 1 bedroom condo.
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Assassins do it from behind.