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Reply to "DCUM Class warfare"
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[quote=Anonymous][quote]Actually this is not true. People in the category of $1M+ don't change their consumption patterns much based on small changes in income. It affects what they save, because they typically already save more than they spend. [/quote] It may not change "consumption" but charitable contributions do not fall under consumption.. [quote]And if you raise my taxes, I'm not going to cut my spending or investing. I'll simply give less to charity. Is that what poor people want? I know lots of people in the $1M+ annual income category, including myself, and not a one would say that. It makes me doubt your income and net worth. [/quote] Really?? I know a lot of people who will be cutting back on charitable contributions if taxes go up. [/quote]
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