Skip to main content

View Diary: On day of Mitt Romney's tax release, poll finds widespread support for raising taxes on the 1% (59 comments)

Comment Preferences

  •  Earnings of 344,000 is still considered a helluva (2+ / 0-)
    Recommended by:
    pstoller78, Uncle Moji

    lot of money and if that is an annual salary, the person or household is considered rich by most people.

    Granted, MIttens is very wealthy and people making this 300k and above are merely rich, I guess.

    •  That's not the only point. (3+ / 0-)
      Recommended by:
      kingfishstew, tofumagoo, VClib

      those who make $344,000 (say, a middle-aged working professional couple each making $175,000 - $200,000) are taxed at the rates for earned income, which are presently (33% up to about $379,000, 35% above that).  

      That 15% is only on capital gains income.  Only the uber uber rich (Romney, Warren Buffet) are taxed at those low rates, because they can get most income through capital gains.  The "merely" 1% are taxed at the much higher earned income rates, because the "merely" 1% are working to earn their income.  

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site