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View Diary: WH, Dems "Seriously Considering" Vote on Obama Tax Cuts (294 comments)

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  •  A mere millionaire, that is, (2+ / 0-)
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    FishOutofWater, elwior

    someone with assets valued at a million dollars would not gain much from the over $250,000. income tax reversion to pre-Bush. One's house produces no income so the income on say $500,000 is only about $25,000 per year and a salary in such a world might be $125,000 or so and the total leaves that millionaire unaffected taxwise.

    I'd say you need to be a multimillionaire (probably an asset value around $2.5 million (and associated and commensurate income), to not benefit as much as everyone else in the 98% tax bill. We are talking about benefiting everyone but the really, really rich.

    We have only just begun and none too soon.

    by global citizen on Tue Nov 16, 2010 at 12:54:19 PM PST

    [ Parent ]

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