Skip to main content

View Diary: LA Times Article Will Sink Romney (175 comments)

Comment Preferences

  •  This is a big deal ... (3+ / 0-)
    Recommended by:
    craiger, historys mysteries, mmacdDE

    One quote from the article:

    Households earning more than $100,000 "are not the 'middle class,'" Feldstein wrote in the expanded version of his study, noting that incomes over $100,000 put a family well into the upper fifth of U.S. incomes. For those taxpayers, making the plan work would require eliminating all deductions and credits, he found. In addition, he said, Romney probably would need to tax the value of employer-provided health insurance for taxpayers with incomes above $100,000. Currently, the cost of insurance is not included in taxable income.
    A household earning $100,001 is by no means rich, and certainly can't afford to have their $15,000 health plan taxed at a 25% marginal rate.

    Even someone at $200,000 is no going to take kindly to paying more in taxes so that billionaires can have their tax rate lowered.  

    Romney's plan deeply sucks if this analysis is accurate - people between $100,000 and $250,000 get killed.

    This is the upper middle class, and if Romney loses them you can stick a fork in the GOP.

    No one could make a greater mistake than he who did nothing because he could do only a little. - Edmund Burke

    by AdirondackForeverWild on Sat Sep 15, 2012 at 05:47:51 PM PDT

    •  It also depends on where you live (5+ / 0-)

      In the DC suburbs, where I live, teachers, cops and the like earn $100K toward the end of their careers.  They are hardly rich.  The cost of living is insanely high here.  I've always said to look at the salaries of the public servants to get an idea of what constitutes middle class income in any given area.   A family with 2 teachers with 25 years experience would earn $200K here.  I know some single parent teachers who really struggle on their income and they work extra jobs to help compensate.

      “It is the job of the artist to think outside the boundaries of permissible thought and dare say things that no one else will say."—Howard Zinn

      by musiclady on Sat Sep 15, 2012 at 08:27:07 PM PDT

      [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site