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View Diary: Obama Campaign - Please Address Tax Threshold Figure! (45 comments)

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  •  250 and 250k are post-deduction taxable income (1+ / 0-)
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    Patricia Taylor

    figures. that are after-tax already-reduntant[. Even though Obama claims to raise taxes for those making over 250k, it is more like 300k since mostly likely someone collecting 300k would have at least 50k in misc, deductions.

      However the details get weedy because of Pep and Pease. Most deductions were not allowed to phased out for higher-income voters under 2001 and 2003 tax laws. Obama wants to phase out deductions.
       Devil is always in the details!!!!!

    •  Thank you for these details. (0+ / 0-)

      I'm assuming you mean 200 and 250K.

      I'm not a financial person, per se.

      Something about your comment made me realize that the tax relief was going to be in the form of some increased deductions for the middle class AS WELL AS decreased deductions for higher-income voters, bringing us back in line with the economy under Bill Clinton's presidency.

      I believe in this kind of progressive taxation.

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