Here’s my rough estimate of someone who make $250k and live in CA. Fed tax rate is 33% and state is 9%. You’re talking about 42% going to taxes. $250k * 0.58 = $145k – $39k (Married maxing out 401k and IRA) = $106k/12 = $8.8k/month.
Hold on there, schloopy. That $40K in retirement savings is pretty significant. And for 401(k), shouldn’t you be backing that out of gross before taking out taxes?
Any couple making $250K or more anywhere is doing good. Plus, we’re only talking about increasing the marginal tax rates. That means if you make $300K, you only get taxed higher on that last $50K.
You super-rich people are whiny. Pay your fair share of taxes and contribute to society like a good citizen. Plus, if you’ve been voting Republican, you owe me and the rest of the Democrats about $3 trillion for this moronic Iraq War. In my opinion, Republicans should be taxed double as punishment for that debacle. And you should be paying for my higher gas costs since oil was at about $40/barrel before the war and is heading to $150/barrel now.
You Republicans have a lot to make up for. I look forward to an Obama presidency so that you whiny brats can pay your fair share to get this country back on its feet.
