[Mom MD]

Try again. The top rate is 33%. By the time you add in state tax hubby and I are up to nearly 40% tax rate. Please tell me just what my “fair share” is. I need to know how much of the money I make working 12 hour days, nights, and holidays I should be giving to those who don’t work but somehow are entitled to the fruits of my labor

DH and I just crack Obamas definition of rich. We paid over 100,000 in federal and state tax last year. There is no more blood in this turnip. Marginal tax rates are over 40% as I am paying tuition at private colleges for 2 of my children. No federally guaranteed loans or grants are available,
we make too much. I can’t wait til kids are out of school. First thing we will do is work less and drop our income, NOT keep working at the same rate and put the extra $ back in the economy. /rant off (temporarily)

[PA Engineer]

DH and I just crack Obamas definition of rich. We paid over 100,000 in federal and state tax last year. There is no more blood in this turnip. Marginal tax rates are over 40% as I am paying tuition at private colleges for 2 of my children. No federally guaranteed loans or grants are available, we make too much. I can’t wait til kids are out of school. First thing we will do is work less and drop our income, NOT keep working at the same rate and put the extra $ back in the economy. /rant off (temporarily)

We are in the same situation (except only one child) and will be doing the same. The one item you left out was AMT. I call it Alternative Maximum Taking. People don't realize in the 33 and the 35 (maxium) there are diminishing tax right offs for state and local taxes as well as mortgage interest and real estate taxes.

Our tax system is a tax on wealth creation and not wealth.

It is clear there is only "one" government and it is not representative. The government is an occupation.

[USNBandit]

You are ranting so much you didn’t read my post. I am not for raising taxes. I am for pointing out that Obama’s scheme for raising taxes won’t work. Even if he raises rates people like poster child Warren Buffet still won’t be paying anything close to his tax rate. People will be given even more motivation to avoid taxes how ever they can. That was all I was trying to say.