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View Diary: Nancy Pelosi's middle-class tax cut extension sets the bar too high (74 comments)

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  •  It is a MARGINAL tax rate (0+ / 0-)

    So someone making $300,000 of taxable income - note that their gross income may be $400,000 or more prior to accounting for state taxes, property taxes, mortgage interest, and charitable contributions - will pay higher taxes on $50,000. Their first $250,000 is taxed the same as today.

    •  Again, when you start talking lower levels, (0+ / 0-)

      you're talking about people who do well for themselves, but not millionaires, etc.

      I have no real problem with taxing well-to-do folks, but lumping them in with Trumps and Kardashians is a great way to look out of touch with reality and anti-success, especially if inflation kicks up.

      LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

      by dinotrac on Fri May 25, 2012 at 12:40:30 AM PDT

      [ Parent ]

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