This isn’t difficult to figure out. Let me help the folks at Gallup. Upper income Americans are generally upper income because they are smarter than lower income Americans. Being that upper income Americans are smarter, they see the economy going into the toilet, and Obama raping and pillaging the economic landscape for years to come. So, we are pulling back. The lower income class is enthused by the promise of more Obama bucks, so they are spending beyond their means. Just like daddy Obama.
Next year won’t be pretty, but the media will pacify the masses, telling them it’s the world economy, it’s the new normal, and their daddy Obama is the smartest man to ever live. If Obama can’t fix it, no one can. The masses will be content with that.
Tax planning
http://www.forbes.com/sites/greggfisher/2012/07/20/start-planning-for-higher-taxes/
December 7, 2012, 3:00 pm
When $250,000 Isn’t Actually $250,000
By CATHERINE RAMPELL
Binyamin Appelbaum and I have an article in Friday’s paper about President Obama’s proposal to raise marginal income tax rates for married couples earning “more than $250,000.”
As we note, there are lot of couples earning more than $250,000 whose tax liability would not be affected.
http://economix.blogs.nytimes.com/2012/12/07/when-250000-isnt-actually-250000-2/