I find the discussions and verbiage performed by the pundits in Washington to be exceedingly disingenuous. How do they come to their nominal pronouncements?
The current tax rate for a person living in California for instance, where I live, State and Federal, under the current tax rate is about 44%. Assuming some creative deductions, mortgage, etc. that leaves approximately $170,000 Net. Divide that figure by twelve months in the year and you are left with a figure of $14,000 per month.
A good living, no doubt, however, RICH, I think not. I don’t know about you, but, between mortgage, insurances, cars, food, real estate taxes, and necessities, there isn’t much left over. Certainly, not enough to go on a decent vacation or send my kid to camp, let alone go out once a week for a nice dinner and a movie, heaven forbid.
Now I understand what the fools in Washington clearly do not. On and on the media seekers waste our time and money (taxpayers) debating the Bush tax cuts. Why can't they please both sides? Raise the number to $500,000 or $1,000,000 income per year and let’s get on with it! A bonus for small businesses and the economy by letting the entrepreneurs, the risk takers get on with the job of creating more jobs and economic growth. Why is this at issue? $250,000 is clearly the upper middle-class, in most cases the entrepreneurs and risk takers that create jobs for the lower middle-class in most cases, the workers. Why redistribute the wealth of hard working Americans.
The economy is crying for the Bush tax cuts to continue. $250,000 is not the income of the RICH but the income of hard working people trying to create wealth for their family and the future. Raise the taxes for people earning $500,000 or $1,000,000 and continue the Bush tax cuts for everyone else. I feel fairly certain no one will argue with this. Seems fair to me! What do you think?
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