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Political Discussion
Reply to "I have a problem with the definition of Rich"
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[quote=Anonymous]It isn't that everyone below the top 1% isn't middle class. They are not. It is that everyone says that the top 2-5% don't pay enough taxes and therefore should pay more. You don't get into the kind of weath where you don't pay high taxes until you get to that 1%. In areas like DC, your income does not go as far as other places, so you cannot accumulate the wealth that the tax code taxes at a lower rate (like cap gains from investments). You depend on mortgage interest deduction etc to lower your taxes otherwise you'll pay the full rate. Families in high COL areas still need those deductions etc - they are not undertaxed. [/quote]
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