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To: drzz

Or they’re just f’n spoiled brats that actually think they have it rough.


7 posted on 11/10/2008 12:37:08 PM PST by Free Vulcan (No prisoners. No mercy. 2010 awaits.....)
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To: Free Vulcan
Or they’re just f’n spoiled brats that actually think they have it rough.

Keep in mind, we're talking about income levels, which is different than wealth. The truly wealthy are not really threatened by any changes to the tax laws. Their wealth is not taxed, except by the death tax, but the really wealthy are very good at insulating themselves from that. Furthermore, people with a lot of wealth are also good at not paying much income tax, because there are a lot of tricks in the tax code, if you can afford a good tax lawyer or accountant, to reduce your taxable income on paper.

When we talk about someone making $250k+, you're probably dealing with small business owners or educated professionals (like lawyers and doctors) who have busted their butts to get to this income level. My wife and I fall into the latter category- we're two lawyers living in the DC area. Our income is above $300K per year, but we are certainly not rich and we have worked hard to get where we are. But, we're the golden goose under Obama's tax plans- we have few, if any, ways to hide our income through tax loopholes. If the tax increase becomes too painful, we'll re-examine whether my wife will stay home with our son, or work a reduced schedule.

31 posted on 11/10/2008 12:51:43 PM PST by Citizen Blade (What would Ronald Reagan do?)
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