What is the current top rate for taxes? 28% for earned income and 15% for capital gains? How many of the "rich" are paying that? John Kerry certainly isn't.
Disclaimer: I AM NOT ADVOCATING RAISING TAXES, but if I was going to raise taxes it would be by simplifying the tax code and eliminating deductions and loop holes. When they raise these rates those that can will have even more reason to seek out every possible loophole.
Top tax rate is 35% plus SS, Medicare, Medicaid.
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)