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View Diary: Don't tax the rich! What am I missing here? (42 comments)

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  •  First of all, "surtax" is a stupid way of (1+ / 0-)
    Recommended by:
    kafkananda

    selling what would actually be the addition of a new bracket at the top of the income scale.

    Most people misunderstand what a marginal tax bracket is, and therefore grossly overestimate the effect of a tax increase on an income earner at a given level.

    In fact, unless we're talking about different proposals, your numbers are exaggerated as well.  For example, you say:

    For those in the lower group of the top 1 percent (those in say the $350,000 bracket), the 1% surtax would reduce their incomes by a measly $3500.

    Actually, if the new bracket starts at $350,000, then someone making exactly $350,000 would see no increase.  Someone making $360,000 would see the 1% increase only on income earned above $350,000 -- so 1% of 10,000 ($100).  And so on.

    Perhaps someone is proposing a true "surtax" that isn't graduated -- but no serious analyst would ever do that, because it would be dead on arrival.

    I hated Lou Dobbs before it was cool.

    by cardinal on Tue Aug 04, 2009 at 08:06:12 AM PDT

    •  This unclarity you point to is all too common. (1+ / 0-)
      Recommended by:
      cardinal

      It's just too easy to lie with statistics falsely applied. And how many of us know enough to tell the where the lie is?

      Wake up to find out that you are the eyes of the world.

      by kafkananda on Tue Aug 04, 2009 at 08:38:55 AM PDT

      [ Parent ]

    •  I am all for taxing cigarettes. (0+ / 0-)

      They serve no positive purpose.  I get upset when my allergy meds (over the counter) are rationed because people make meth out of one of the ingredients, but then cigarettes, which have no medicinal value at all and kill people, are readily available.  

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