[quote=AN]I never said they won’t get by. But you don’t see that scenario being sold. You see multimillionaires as an example for increasing taxes on those who make $250k. If I use your logic, since I can get by with much less than $250k, I guess we should tax those in the 28% tax brackets and up much higher. Afterall, they’ll get by just fine.[/quote]
My argument has nothing to do with whether they can get by. I know that those with income lower than $250K a year spend a much higher percentage of their income which drives the economy. I know that higher top marginal tax rates on higher income small businesses encourage investment and hiring rather than the lie being told by those opposed to the increase that it discourages or limits investment and hiring. I know that over the last 40 years, the differnce between mean and median income in the US has grown significantly, as has the concentration of wealth, as a result of tax policies which disproportionately benefited those with high incomes. I know the country has huge debt and a huge annual deficit, and those things have to be dealt with.
