Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think the general argument here is it’s crazy that two 200k working professionals get lumped into the “rich” bucket. It’s beyond insane to me.

That bucket is vilified. Why should a tech manager and a pilot be targeted for tax increases? Target the owner of the marketing company or the ceo of airline company. You all are nuts or just love bringing yourself up by trashing modest earners.

Fine, raise the taxes but bring back the salt deduction. I think most around here wouldn’t bat an eye about that..

It’s not insane. Those two are both in the top couple percent of earners. What would be insane is creating multiple tax brackets that in practice apply to less than one percent of the population.

How is that insane?

It would raise taxes on all the wealthy, but at least is differentiates between a working class family and a hedge fund tycoon. Frankly it’s a win win

Anonymous wrote:

Anonymous wrote:I think the general argument here is it’s crazy that two 200k working professionals get lumped into the “rich” bucket. It’s beyond insane to me.

That bucket is vilified. Why should a tech manager and a pilot be targeted for tax increases? Target the owner of the marketing company or the ceo of airline company. You all are nuts or just love bringing yourself up by trashing modest earners.

Fine, raise the taxes but bring back the salt deduction. I think most around here wouldn’t bat an eye about that..

It’s not insane. Those two are both in the top couple percent of earners. What would be insane is creating multiple tax brackets that in practice apply to less than one percent of the population.

Anonymous wrote:I think the general argument here is it’s crazy that two 200k working professionals get lumped into the “rich” bucket. It’s beyond insane to me.

That bucket is vilified. Why should a tech manager and a pilot be targeted for tax increases? Target the owner of the marketing company or the ceo of airline company. You all are nuts or just love bringing yourself up by trashing modest earners.

Fine, raise the taxes but bring back the salt deduction. I think most around here wouldn’t bat an eye about that..

Anonymous wrote:I think the general argument here is it’s crazy that two 200k working professionals get lumped into the “rich” bucket. It’s beyond insane to me.

That bucket is vilified. Why should a tech manager and a pilot be targeted for tax increases? Target the owner of the marketing company or the ceo of airline company. You all are nuts or just love bringing yourself up by trashing modest earners.

Fine, raise the taxes but bring back the salt deduction. I think most around here wouldn’t bat an eye about that..

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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..

Why don't they focus on the truly wealthy (1M indiv, 2M MFJ for example) and stop going after mid level professionals..

rant over

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

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.

A family comprised of two professionals earring over 400k combined is rich. If you think you aren't rich, you are delusional

yawn

You clearly don't have young kids and live inside the beltway. 400k aint nothing anymore...sad to say

most people with kids living in the beltway manage to do so with far less.

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.

I am poor and I agree with PP. An HHI 400k has much more in common with an HHI 100k than an HHI of 10M. In fact, if your income is labor-dependent, you are likely paying the same bills as the middle class (only for much nicer versions of house, car, vacation, school). A surgeon may be very wealthy, but he still has to work to get paid. People who live off the passive interest in their wealth are rich and have nothing in common with 400k households.

Why do you assume the guy with HHI of 10M isn’t working for that? There are people who make that much working. CEOs and other high level executives, investment bankers and other financial professionals, business owners, pro athletes, musicians, actors, a few highly successful lawyers, etc. I’m sure there are some trust funders with that kind of income, but there are also plenty who earn it thru working.