[Oldexpat]

You have many middle class families who have two hard working parents earning 200k. It could be a teacher and a fireman here in CA. The extra 4% would come straight out of their housing costs..and further kill the housing market. People like that aren’t going to give up their savings..cause they know they need it. They are already going to hold on to their old cars. But, they will scale back their home purchase to match their take home pay.

[BigBobber]

Zero keeps telling us health care reform is going to save money. So why do they need to raise taxes?

[taildragger]

The 4% will come out of their 401(k)'s but that is ok...

These stooges will go along with Rep Miller's Gov't Annunity sceme to replace 401's etc, because it will help ease their pain....

You didn't see that coming?

[ichabod1]

It could be a teacher and a fireman here in CA.

Ya see, there's your problem right there.

[CottonBall]

You have many middle class families who have two hard working parents earning 200k

You're right - these days $200K is NOT wealthy by any means. I quit working years ago, mainly to raise my son but also because we were being punished for working so hard. My son is 18 now, but I'm not really considering going back to work because taxes are ridiculous on a 2nd income. I'd be taxed at close to 50% (25-28% federal depending on if the Bush tax cuts expire, 9.55% state, and 7.65% SS and Medicare). And we're not even in the top tax brackets!

I really wish more people would look at exactly how much they are paying in taxes. When I showed these very easy calculations to some coworkers, they just couldn't believe it. Whatever the 1st income's top bracket is, the 2nd income is taxed starting at that level and may even go into another bracket. So many of my neighbors leave their kids home alone - and all for about 50% of what they work for.