Regardless, people who make over $250k ALREADY pay way too much tax IMO as it is, and they shouldn’t have to pay more. They already pay WAY more then their share. The Fed and State Governments shouldn’t heap all the burden of our current debt & entitlement woes on this small group of financially successful people. If Obama raises the top bracket to 40% federal & you combine fed + state income taxes post prop 30, CA high income earners are going to be paying taxes close to European countries. And for all that tax we don’t get sh*t for services in the U.S. or Ghettofornia. At least in Europe you get something for being skinned alive by the Government.
Chuck Schumer one of the moderate democrats (and often voices of reason) in congress even said Obama should not consider $250k rich, he said it should be $1 millon+. Wow, someone with some common sense in congress![/quote]
How do you figure they pay “way more” than their share when compared to people who earn between ~$100K and $250K?
You do realize that we’re talking about *marginal* rates, right? Too many people seem to think that a “~39% tax rate” means that all of their income is taxed at that level. For most people who earn around $250K-$300K, they will not even notice the tax increase. How many people do you think earn that much? And of those who do earn that much, how much of it is earned income?
