• and im wondering two things. The first being weather anyone understands that the actual 'tax increase' would only be implemented on what you make over 250,000 & would go up by about 3%. Meaning if you make $260,000 you will be taxed at a rate of aproximately 35% from $0-$250,000 (just like everyone else) and a 3% higher rate of 38% on $10,000.

    I also wonder if any of the people who are so disgusted by the increase actually fall into that tax bracket?

    I live in NYC, and the people I know (myself included) who fall into that tax bracket aren't crying over the 3% extra they will be taxed over $250,000 because when you are making decent money it makes a very minor difference if any. (the ONLY reason i say myself included is because on quite a few post it seems that a number of people assume that most blacks either don't work, or are on welfare which accounts for why they vote democrat. So I wanted to make it very clear that this is not the case)

    Can anyone help me better understand why this notion gets so many people up in arms when the stats clearly show it will only be the top 10% that will have to 'suffer' the 3% tax hike?


  • Let's look at this like Joe the Plumber...

    As a worker I make $50K. I save and work hard. Now I have enough to buy the company and make $500K. If i get charged the higher tax just by improving my life, why should I do so? I can still make a good living if I keep my earnings under $250k, so I am now going to try to keep my earnings lower to avoid higher taxes.

    Now at the $250k level I hire 3 guys to help me out. For $500k I'd higher 8 guys. So, the tax now kept 5 guys out of work, probably earning near $50k each.

    Also, since I want to avoid the taxes, I pass it to my customers. Using your 3% number, a $100/hour job now costs $103/hour. It takes 10 hours, so the customer pays $30 more for the job. I pay no taxes and that poor guy with the flooded basement is even more broke.

    And then there's Obama's required health care/insurance. I wasn't offering health care to my new employees because they can afford it on their own. Now I have to pay it. So their salary goes down from $50k to $45K and I raise my rates another 2%. So the employees lose money and the customer pays $50 extra. My employees could have found a good health care plane for $2k, but Obama required be to get the 10K version (according to his last debate with McCain).

    Here's a suggestion. Let's set a base tax of 15% and then those "rich" people who are crying that they aren't paying enough to the IRS can write a check for the extra amount as they wish. I'll bet you your friends who aren't crying over the 3% won't pay any of that extra tax.


  • That's not how taxes work. People who make little actually get money back from the gov., then it goes up after that depending on how much you make. There are special tax rules for the reporting of capital gains that would change as well, along with other goodies passed by Bush to reduce taxes. Their new burden could be well over that.


  • The problem is that it is not good for the economy.
    No matter who you take the money from it will be less money spent, the less money people spend the less items stores sell, the less they sell the less they buy from suppliers and the less they buy the less items companies make. So if companies make less of their products they need less workers to make, package, distribute and sell these items which causes jobs to be lost. So then more people need help, taxes go up again and the whole cycle repeats causing even more jobs lost.


  • Okay....economics 101


    If a business has to pay higher taxes......then they will raise the CGS

    Cost of goods sold.....business can factor anything they want into this.

    So lets say a widget cost $1. and the tax rate goes up 3% on that business. you now pay $1.03 for it. But also do not forget regular tax. so now your new price is 1.03*1.0825=1.12. this would mean you go shopping and spend $100 now you will spend $112......put that math against a car........$25000.....or a new home $150,000

    It adds up...........No new taxes.



  • It's a matter of principle. No matter how minor the increase, it is inherently unfair to tax at a higher rate those who have achieved that level of success. It is declaring a ceiling at which the government believes you have achieved excess wealth and should be penalized for it. It is also the beginning of a dangerous precedent.


  • 3% on 10,000 doesn't sound that high, but when you take into consideration the companies that employ thousands of people, and gross billions of dollars, 3% can really rack up. That would bother most people making less than 250,000, if those companies would not end up cutting jobs due to higher taxes, and not pass on those higher taxes onto the consumer. You see it will affect everyone in every tax bracket. It's reverse trickle down economics, and it would not be good.







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