As I understand it, this tax excludes retirement and the PF dividend.  I assume that means it also excludes investment income and dividend payments.  I also need to assume that this tax starts at $1 and ends at $150,000.  So everyone under $150,000 per year pays 100% of the tax and those with income exceeding $150,000 pay nothing on that excess income.

Sorry Governor Walker, if you need to tax 100% of income for those under $150,000 then you damn well better tax 100% of the income for those earning over $150,000 per year.  That includes investment income.