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

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[quote=Anonymous][quote=Anonymous][quote=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.  [/quote]

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. [/quote]

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?[/quote]

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