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Proposals would take biggest bite out of highest earners.
and yet the 47% still get representation without taxation.
Those wealthy getting tax rate increases are still not paying what those in their income brackets paid in the 1950's. Many of us making under $250,000 adjusted gross income pay more than a 22% tax rate. ..... Cannot feel sorry for wealthier individuals paying a little more. Remember, they got a huge tax DECREASE. ... This just restores some of that cut in their taxes by Bush during his years in office. .... Also, stop continuing with the lie that 47% don't pay taxes. They do pay taxes to their states and for sales tax. ... A family of four making $50,000 do not pay federal taxes but they pay other taxes. (They pay the tax, but get it back when they file their end of the year taxes.)
"To Zimmerman, the Cincinnati businesswoman, that amount sounds reasonable. "I'm not going to change my business decision-making process based on a few percentage points of tax increases," she said. "If it helps get the country on a better path, well, we're all in this together.'" If only the wealthy could have that attitude!
How quickly you forget that the super wealthy in this country fall into that 47% category...
The $1.6 trillion over 10 years sounds like a lot, but if the deficit continues the way it has been, that will be more than $10 trillion in new debt.
It is clear that just looking at the revenue side will not be enough.
delephone "Those wealthy getting tax rate increases are still not paying what those in their income brackets paid in the 1950's
Maybe we should be spending like we did in the 50's too! Lets have the same spend % of the budget on Welfare, food stamps, Foreign Aid, Department if Education, Medicare as we did in the 1950's!
There is no federal sales tax, although there are some federal excise taxes (tires, alcohol for example). But don't mix up the discussion. The issue is federal income tax rates and revenue.
Lets take Obama upon his campaign promise... $2 in spending reductions for every $1 in tax increases. Let the Bush Tax cuts expire, that $200B in annual tax revenue, then come up with $400B in spending reductions. Cut the Following to 2008 levels.... Military, Foreign Aid, Department of Education, Food Stamps, Unemployment insurance, Department of Energy, Department of Education,Health and Human Services....
@zorkman: of course they are not only looking at revenue. I would hope that there would also be some spending cuts... I hear the government is very inefficient. Maybe it has something to do with congressmen and women who get paid to NOT DO ANYTHING!
Wow, a whole .4% of US households will be affected by raising rates. Why should we feel bad about the most successful people in America paying a few percent more on their taxes? They should WANT to pay more, they're MAKING MORE MONEY!
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