Quote:
Originally Posted by firstdown
Yes you are correct the 250,000 number picked was for a good reason. The lower the income Obama wants to increase tax on the great % of Americans it affects and the more people it affects the more people less likely to vote for him. If I'm correct the % of people in the US making over 250 is 2% drop that to $150,000 and the percentage of Americans affected jumps much higher.
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I'm a righty, but I have to give him credit. He picked $250K very carefully. As you say, it sets a level affecting only 2-3% of Americans. Yet the revenue generated by the increase on this small group will make a significant difference to assuaging our bloated federal deficit.
Where I really disagree with him though is on that Capital Gains tax, he wants to go above 20%. Historically that has been a terrible idea. But that's another discussion.