When did the Obama/Biden tax hike switch to those earning more that $1M?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:8:13 here. Regardless, though, if you're making $250,000, you can afford a few extra dollars (and it's marginal, so it really doesn't work out to be a lot). I'm saying that as someone just over the threshold who would be impacted, not as a millionaire. If you haven't overreached in your expenses, even in DC, there's really no reason you shouldn't be able to afford what you need and save on $250,000.

When a decent house in an acceptable school and refundable commute costs over a million , 250k ain't shit.

I'm the $200k poster and I'm very happy with my standard of living. Maybe we don't live as well as you do though.

Maybe you should pay more and pp can pay less. Nothing is stopping you from making an irs donation

http://www.fms.treas.gov/faq/moretopics_gifts.html

[Anonymous]

Marginal. The tax rate will go up 4.5% (from 35% to 39.5%) for income over $250K. That means if you make $300K, your tax rate would go up $2250 per year (4.5% of $50K). If you make $500K, then your rate would go up $13,500. You're telling me that you think that someone making $500K would go broke paying $13,500 more in one year? Or that someone making $300K would be hard hit to pay $2250 more? Our HHI is $200K and we could afford $2250 more per year. And we pay $33K for daycare for our twins. I can't believe that people really argue this. the people hardest hit would be those making over $1M. They have close to the lowest income tax rate since the Great Depression and they're whining about a 4.5% marginal increase.

[Anonymous]

Anonymous wrote:Marginal. The tax rate will go up 4.5% (from 35% to 39.5%) for income over $250K. That means if you make $300K, your tax rate would go up $2250 per year (4.5% of $50K). If you make $500K, then your rate would go up $13,500. You're telling me that you think that someone making $500K would go broke paying $13,500 more in one year? Or that someone making $300K would be hard hit to pay $2250 more? Our HHI is $200K and we could afford $2250 more per year. And we pay $33K for daycare for our twins. I can't believe that people really argue this. the people hardest hit would be those making over $1M. They have close to the lowest income tax rate since the Great Depression and they're whining about a 4.5% marginal increase.

This. We make $280k. I can't go around buying Louis Vuittons willy nilly, but we really don't need to watch our expenses that much, and we do save for retirement and college, have 1 kid in daycare, and are saving for a new home. I'm ok with paying a little more. What would be the net impact on my life if I had to pay a couple thousand extra over the course of the year? Not sure I would notice. Probably wouldn't buy a couple things that I didn't need in the first place. We definitely wouldn't stop saving as much as we do. $2000 to someone making $50k feels like SO much money.

[Anonymous]

I wouldn't mind paying more if the feds were responsible with our tax dollars but they are not--and it pisses me off. Now I will be required to pay more for still more irresponsibility.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:8:13 here. Regardless, though, if you're making $250,000, you can afford a few extra dollars (and it's marginal, so it really doesn't work out to be a lot). I'm saying that as someone just over the threshold who would be impacted, not as a millionaire. If you haven't overreached in your expenses, even in DC, there's really no reason you shouldn't be able to afford what you need and save on $250,000.

When a decent house in an acceptable school and refundable commute costs over a million , 250k ain't shit.

I'm the $200k poster and I'm very happy with my standard of living. Maybe we don't live as well as you do though.

Maybe you should pay more and pp can pay less. Nothing is stopping you from making an irs donation

http://www.fms.treas.gov/faq/moretopics_gifts.html

The point was its ridiculous to complain about only making $250,000. It buys a great lifestyle.

[Anonymous]

Note: Don't forget it's your TAXABLE income. Is that what the 300K and 280K posters were talking about? If you were talking gross income, it will cost you much less, and quite possibly will not affect you at all.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Marginal. The tax rate will go up 4.5% (from 35% to 39.5%) for income over $250K. That means if you make $300K, your tax rate would go up $2250 per year (4.5% of $50K). If you make $500K, then your rate would go up $13,500. You're telling me that you think that someone making $500K would go broke paying $13,500 more in one year? Or that someone making $300K would be hard hit to pay $2250 more? Our HHI is $200K and we could afford $2250 more per year. And we pay $33K for daycare for our twins. I can't believe that people really argue this. the people hardest hit would be those making over $1M. They have close to the lowest income tax rate since the Great Depression and they're whining about a 4.5% marginal increase.

This. We make $280k. I can't go around buying Louis Vuittons willy nilly, but we really don't need to watch our expenses that much, and we do save for retirement and college, have 1 kid in daycare, and are saving for a new home. I'm ok with paying a little more. What would be the net impact on my life if I had to pay a couple thousand extra over the course of the year? Not sure I would notice. Probably wouldn't buy a couple things that I didn't need in the first place. We definitely wouldn't stop saving as much as we do. $2000 to someone making $50k feels like SO much money.

Would you or PP mind sharing with us why you won't send more than minimally required to send? I notice you said if you " had" to pay a couple of thousand extra. You could "have" been paying a couple o' thow more every single year. Why not?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:8:13 here. Regardless, though, if you're making $250,000, you can afford a few extra dollars (and it's marginal, so it really doesn't work out to be a lot). I'm saying that as someone just over the threshold who would be impacted, not as a millionaire. If you haven't overreached in your expenses, even in DC, there's really no reason you shouldn't be able to afford what you need and save on $250,000.

When a decent house in an acceptable school and refundable commute costs over a million , 250k ain't shit.

I'm the $200k poster and I'm very happy with my standard of living. Maybe we don't live as well as you do though.

Maybe you should pay more and pp can pay less. Nothing is stopping you from making an irs donation

http://www.fms.treas.gov/faq/moretopics_gifts.html

The point was its ridiculous to complain about only making $250,000. It buys a great lifestyle.

$250k is very different in Manhattan, DC, etc. then it is in Kansas. In the former it is middle class- its comfortable but sure ain't "rich" like is bandied about.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Marginal. The tax rate will go up 4.5% (from 35% to 39.5%) for income over $250K. That means if you make $300K, your tax rate would go up $2250 per year (4.5% of $50K). If you make $500K, then your rate would go up $13,500. You're telling me that you think that someone making $500K would go broke paying $13,500 more in one year? Or that someone making $300K would be hard hit to pay $2250 more? Our HHI is $200K and we could afford $2250 more per year. And we pay $33K for daycare for our twins. I can't believe that people really argue this. the people hardest hit would be those making over $1M. They have close to the lowest income tax rate since the Great Depression and they're whining about a 4.5% marginal increase.

This. We make $280k. I can't go around buying Louis Vuittons willy nilly, but we really don't need to watch our expenses that much, and we do save for retirement and college, have 1 kid in daycare, and are saving for a new home. I'm ok with paying a little more. What would be the net impact on my life if I had to pay a couple thousand extra over the course of the year? Not sure I would notice. Probably wouldn't buy a couple things that I didn't need in the first place. We definitely wouldn't stop saving as much as we do. $2000 to someone making $50k feels like SO much money.

Would you or PP mind sharing with us why you won't send more than minimally required to send? I notice you said if you " had" to pay a couple of thousand extra. You could "have" been paying a couple o' thow more every single year. Why not?

What is the point of one individual voluntarily paying more? It would never affect anything in any meaningful way. Even if it were Warren Buffet. or 100 Warren Buffets. Changing actual tax policy is what matters.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Marginal. The tax rate will go up 4.5% (from 35% to 39.5%) for income over $250K. That means if you make $300K, your tax rate would go up $2250 per year (4.5% of $50K). If you make $500K, then your rate would go up $13,500. You're telling me that you think that someone making $500K would go broke paying $13,500 more in one year? Or that someone making $300K would be hard hit to pay $2250 more? Our HHI is $200K and we could afford $2250 more per year. And we pay $33K for daycare for our twins. I can't believe that people really argue this. the people hardest hit would be those making over $1M. They have close to the lowest income tax rate since the Great Depression and they're whining about a 4.5% marginal increase.

This. We make $280k. I can't go around buying Louis Vuittons willy nilly, but we really don't need to watch our expenses that much, and we do save for retirement and college, have 1 kid in daycare, and are saving for a new home. I'm ok with paying a little more. What would be the net impact on my life if I had to pay a couple thousand extra over the course of the year? Not sure I would notice. Probably wouldn't buy a couple things that I didn't need in the first place. We definitely wouldn't stop saving as much as we do. $2000 to someone making $50k feels like SO much money.

Would you or PP mind sharing with us why you won't send more than minimally required to send? I notice you said if you " had" to pay a couple of thousand extra. You could "have" been paying a couple o' thow more every single year. Why not?

What is the point of one individual voluntarily paying more? It would never affect anything in any meaningful way. Even if it were Warren Buffet. or 100 Warren Buffets. Changing actual tax policy is what matters.

Hate to tell you, but it's not a revenue issue, it's a spending issue. Bush tax rates brought in historic levels of revenue.

[jsteele]

Anonymous wrote:Hate to tell you, but it's not a revenue issue, it's a spending issue. Bush tax rates brought in historic levels of revenue.

Bush entered office with record budget surpluses and left office with record budget deficits. Whatever Bush did, it didn't work.

[Anonymous]

There was only one year where revenues came back up to levels under Clinton and that was 2007. Revenue per capita has never recovered.



“Although the economy grows in response to tax reductions (because of higher consumption in the short run and improved incentives in the long run), it is unlikely to grow so much that lost tax revenue is completely recovered by the higher level of economic activity.” (2003 Economic Report of the President)

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Marginal. The tax rate will go up 4.5% (from 35% to 39.5%) for income over $250K. That means if you make $300K, your tax rate would go up $2250 per year (4.5% of $50K). If you make $500K, then your rate would go up $13,500. You're telling me that you think that someone making $500K would go broke paying $13,500 more in one year? Or that someone making $300K would be hard hit to pay $2250 more? Our HHI is $200K and we could afford $2250 more per year. And we pay $33K for daycare for our twins. I can't believe that people really argue this. the people hardest hit would be those making over $1M. They have close to the lowest income tax rate since the Great Depression and they're whining about a 4.5% marginal increase.

This. We make $280k. I can't go around buying Louis Vuittons willy nilly, but we really don't need to watch our expenses that much, and we do save for retirement and college, have 1 kid in daycare, and are saving for a new home. I'm ok with paying a little more. What would be the net impact on my life if I had to pay a couple thousand extra over the course of the year? Not sure I would notice. Probably wouldn't buy a couple things that I didn't need in the first place. We definitely wouldn't stop saving as much as we do. $2000 to someone making $50k feels like SO much money.

Would you or PP mind sharing with us why you won't send more than minimally required to send? I notice you said if you " had" to pay a couple of thousand extra. You could "have" been paying a couple o' thow more every single year. Why not?

What is the point of one individual voluntarily paying more? It would never affect anything in any meaningful way. Even if it were Warren Buffet. or 100 Warren Buffets. Changing actual tax policy is what matters.

Hate to tell you, but it's not a revenue issue, it's a spending issue. Bush tax rates brought in historic levels of revenue.

Wrong!

[Anonymous]

Dear OP. DCUM is not only majority liberal but many of us has already voted.
Don't you have anything better to do?

[jsteele]

Anonymous wrote:Dear OP. DCUM is not only majority liberal but many of us has already voted.
Don't you have anything better to do?

The OP didn't do anything inappropriate. You should welcome the opportunity to clarify Obama's policies.