Is this an individual income or a household income? Anyone know?
That makes a big difference. There are lots of professional households where both husband and wife make $100K each.
This has been tried before:
This is a British cartoon from 1776, commenting on the Ministry's short-sightedness regarding the colonies. Same now with "the rich". Not so many Golden Eggs when marginal tax rates get towards 60%.
Numerous ministers surround a goose are about to cut of the head. You can see one man holding a basket of golden eggs. At the bottom a dog pees on a map of North America. Published in 1776. The text reads:
In Gotham once the Story goes
A lot of Wise-acres arose
Skilld in the great Politic Wheel
Could pound a Magpie, drown an Eel,
With many Things of worthy Note
At present much too long to quote,
Their district was both far and wide
Which not a little swelld their Pride
But above all that they possessd
Was a fine Goose, by all confessd,
A Rara Avis to behold
Who laid each Day an Egg of Gold
This made them grow immensely rich
Gave them an avaritious Itch,
The Case belongs to many more
They not contented with their Store
Would Methods vague and strange pursue
To make the Harmless Bird lay Two,
This Glorious purpose to obtain
About her Neck they put a Chain,
And more their Folly to compleat
They Stampt upon her Wings and Feet,
But this had no Effect at all,
Yet made her struggle, flutter, squall,
And do what every Goose would do
That had her Liberty in view,
When one of more distinguisd Note
Cryd D__n her, let us Cut her Throat,
They did, but not an Egg was found
But Blood come pouring from ye Wound.
So it is official everyone but one type of class is screwed. The upper/middle class and the wealthy. The only ones movin on up to the east side will be the welfare recipients with their free mortgage,gas,food, caddie escalades, and cell phones. And dare if we complain we are racists.
A surtax on income, as opposed to wealth, would hurt the strivers who represent undesirable competition for the rich.
Just think,,,,if we weren’t in a recession and the jobless rate was not at record levels,,,,,the Commie cRATS would still be pushing more taxes for fairy tales,,,there feel better now??
YOu know, really, we should all automatically assume that this Congress will put a SOW on every piece of legislation they pass. SOW = surtax on the ‘wealthy’. If you have pigs, you got pork!
The new Obama health and exercise workout routine: “And bend and stretch and bend and grab, now howl and groan and bend and howl...”
These idiots won’t be happy until we have a permanent recession and permanent unemployment rates over 10%.
I’m so glad we have an administration that intends to leverage technology.
Here in my office I have this high tech thing called a ‘calculator’. This device, which is actually powered by the Sun, tells me that 4% of $200K is $8K. All I had to do was type in the numbers and it instantly tells me what I needed to know. It’s amazing.
So I kept typing in this math question over and over until finally a puff of smoke came out of the back and the words ‘Joe The Plumber’ locked on the screen.
In spite of all this high technology that me, a mere middle-management wife mortgage and two kids type had access to, I’m not finding how Uncle Sam will find better use of the $8K than the person who actually EARNED IT.
I’d encourage Mr. Soetero to get one of these fancy calculator thingys. It would be a good start to better understanding what sacrifice he’s asking of families.
But I thought that $250,000 was the borderline for wealthy. Now it’s down to $200,000? If this keeps up, the fashionistas will be saying “$50,000 is the new $250,000!”