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][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]

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. 
[/quote]

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. [/quote]

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