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Reply to "How many people here understand what taxable income is and how marginal tax rates work?"
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[quote=Anonymous][quote=Anonymous]I'll add to that one, OP (and CPA) Can you tell me why Democrats can't speak to the difference between income and wealth? It's clever to call a high income earner a "millionaire/billionaire" but you both understand the difference, as do the dissemblers. These posts would be much more honest if once in a while we'd admit there's plenty of lying to go around.[/quote] In case you didn't think of it, people who earn $1m+ in annual income are (unless they are total fools) much richer than millionaires. So in reality, they are being conservative by using the label. They could really say "people who earn $1m in a single year" but that's a mouthfu. So is it inaccurate? Sure. Are they bending the truth to their advantage? No, they are using a shorthand that actually does not benefit them.[/quote]
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