(no subject)

[brushwolf]

http://www.huffingtonpost.com/2012/12/07/obama-tax-plan_n_2257285.html?icid=maing-grid7%7Cmaing6%7Cdl3%7Csec1_lnk2%26pLid%3D242710

Uh. I don't know whether I even know anyone who makes $250K/year. I know some pretty well off people and I thought they made less than that. Where do these mythical people live? Buildings around Central Park? Private islands in the San Juans? Mount Olympus?

http://www.washingtonpost.com/blogs/2chambers/wp/2012/12/05/if-tax-cuts-expire-how-much-will-you-owe/?tid=socialss

'Cept if some rich guy gets a $254,000 tax increase, then they won't be able to afford more mutual funds or a few more cars and they can always send the money - or themselves - offshore. Whereas at the bottom? A $412 increase is a bit over a month of riding the bus to and from work and maybe groceries, about a year of doing your clothes at the laundromat, or maybe a month of rent if you're lucky. And it's certain that us at the bottom aren't able to move our bank accounts offshore.

Comments

[emberleo]

Well, there's this problem where people keep on misunderstanding how the taxes work. The first 250k a person earns are taxed that way regardless of how much MORE they make. It's only money over that amount that gets taxed at the next rate up.

So yeah, they're specifically designed NOT to screw the middle class, or even most of the upper-middle class. If your primary problem is paying a mortgage, you are not the target of these increases.

-E-