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Reply to "Biden tax proposals - MFJ"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]well here is your answer: https://www.cnbc.com/2021/03/18/biden-tax-plan-what-people-making-under-and-over-400000-can-expect.html "She clarified on Wednesday that the $400,000 threshold applies to families, not individuals. Consequently, individuals who make $200,000 could be affected if they are married to someone who earns that same amount, for example." This is really annoying. Why in the world does the government go after working class families. I know I will get crap for saying this but come on 400k in DC is not rich, NOR are they the problem. Two high level feds and some investment income gets you to 400k..are they really wealthy? Politicians need to get over this weird infatuation with 200k and rich. yeah maybe 20 years ago.. [b]Why don't they focus on the truly wealthy (1M indiv, 2M MFJ for example) and stop going after mid level professionals.. [/b] rant over[/quote] Because there aren't that many people with HHI up there. You have to dip lower to get more money for the gov't coffers[/quote] We have been told for years that "the rich" need to pay more. Now suddenly a family of 5 or 6 in a high COL area earning 200K is "the rich"? How about some of these folks that have been feathering their nest during the pandemic, raking it in while others were unemployed.[/quote] A family comprised of two professionals earring over 400k combined is rich. [b]If you think you aren't rich, you are delusional [/b][/quote] yawn You clearly don't have young kids and live inside the beltway. 400k aint nothing anymore...sad to say [/quote] most people with kids living in the beltway manage to do so with far less. [/quote] No one is arguing that 400k is a great income, it's just not rich. I guess it depends what you classify as rich. For me it's never thinking about money ever. 400k is so far from that standpoint.[/quote] if you define it as the ability to afford a $1 million+ home, nice vacations, luxury cars... all while funding retirement savings, then 400k qualifies. Never worrying about finances is a moving target and depends on expenditures as much as income[/quote] 1M house in not a luxury item in DC. It's more or less avg (factoring out condos). The avg new car is close to 40k (toyota, jeep, etc)...hardly luxury. Funding retirement shouldnt be luxury. All these things are not splurges and require a substaintial income[/quote]
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