Wednesday, October 13, 2010
New option: Don't tax the rich. Tax the really rich
The Obama mantra. Tax cuts will not be extended for the rich sector of the country. Here he states exactly the threshold for "richness," $250,000. This is certainly a reasonable number to decide upon. If a certain household was making 250 grand or more, I do not think they have much to worry about, when it comes to relieving tax cuts. Those who are being vocal about raising the threshold to 500,000 or even 1 million dollars, are being stupid, plain and simple. Those Democrats who are calling for a temporary extension for everyone, especially those running for reelection who want extra funds for campaigning, are imbeciles. It is time to tax the rich! On paper, a reported "income" of 250 grand is more likely to be an actual physical income of 350,000. Enough bull. Move onwards.
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Need to understand that 35% of 250,000+ is still a much greater contribution than those taxpayers in the lower brakets. This tax is highly regressive for those who are just exceeding the threashold; small business employment numbers may be choked to death.
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