White House to Allow Bush Tax Cuts for Wealthy to Expire

Discussion in 'Wall St. News' started by Daal, Jul 22, 2010.

  1. Or plutocracy in modern terms. Oligarchy in Plato's Republic.
     
    #11     Jul 26, 2010
  2. Tom B

    Tom B

    $200,000 for an individual and $250,000 for a couple filing a joint tax return is not rich.
     
    #12     Jul 26, 2010
  3. LEAPup

    LEAPup

    True.

    Odumba letting the Bush tax cuts expire, AND at the same time I hear rumors about some other type of "stimulus" the idiots are thinking about.

    Higher taxes, and more government spending... I want to run for the hills.:eek: Is there ANY common sense left in the US?
     
    #13     Jul 26, 2010
  4. $250,000 is middle class, as far as I am concerned.

    My quality of life did not improve going from 55k (first job) to 300k. I still drive an economy car. Still live in a middle class neighborhood. I have a slight buffer against being on the streets, but a health care emergency could wipe me out.

    A truly rich person? Someone who can't be wiped out by an unexpected health care expense -- and that does not happen unless someone makes at least 7 figures.
     
    #14     Jul 26, 2010
  5. LEAPup

    LEAPup

    I agree.
     
    #15     Jul 26, 2010
  6. Right, but 250+ isn't bearing that much of an increase either and all thats happening is they're going back to where their marginal rates were reduced to over the decades.

    This kind of thing, the details, is where the debate is always
    the refuge for obfuscation.
     
    #16     Jul 26, 2010