become tax increases on FAMILIES making over $250,000?
If the husband and wife both make $125,000.01, they get a tax increase?
I was paying attention, and I never heard that one.
BTW - $125,000 is NOT rich! It's a fire department captain with lots of overtime and supplements.
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During the last couple of weeks of the campaign, it became families over $250,000....a FOX guy tried to get an Obama guy to explain why it would be $200,000 for individuals and $250,000 for families, when the logical number should be $400,000 for families. The Obama guy just ignored him and started in on something else. Probably calling him a racist.
Why should anyone be surprised? Under current IRS rules when you file a joint return, If one person is making, say $250,000 and the other is making $30,000, there is no tax difference than if both are making $140,000
This idea that "the cut-off" for being sufficiently "rich" thereby providing justification for getting penalized with higher taxes, can be affixed at a certain number is such b.s. Because it depends on a lot of different factors.
Let's take a hypothetical 26 year-old single guy who makes $85,000 even though he never bothered with college, but instead was hired at 18 by his Daddy who owns the big lumber mill in town, and through nepotism and not talent he is now the 37.5 hour/week mill manager, pulling down twice a much as his foreman who does the actual work - and it is in rural Mississippi with low taxes, low cost of living, and a 2500 sq foot house might cost $150,000. We've ALL met guys like this.
Now compare him with a 52 year old professional couple who have worked their everliving asses off going through college and then graduate school (while working full time) it's been 60+ hours/week for 25 years slogging away trying to better themselves. They had school loans and they raised a couple of kids who now want to go to college - so they've got that to deal with now too. After several decades of hard work, they have finally reached the stage where between the two of them they have FINALLY starting making good money and their combined income hit $265,000 in 2008 - - in their high cost of living state of say New Jersey, where that 2500 square foot house costs $400,000+.
According to the Class Envy/Class Warfare crowd (a/k/a "Democrats"), the professional couple, who are self made and who did it all through sheer hard work, are the "rich" ones, and who are not paying their "fair share" under the current tax code, and who therefore, according to the Obamobots, must be forced to pay more.
Obamanation: You get penalized for working hard enough to become successful.
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