Pls pardon my laziness but where was the figure $250K discussed? The quote I heard included millionaires and billionaires.
Between me and my wife, we’re in the $250K ballpark, and no, we are not rich…at all, but we are very comfortable. Although I wouldn’t like for my taxes to be increased, I’d deal with it if they were. Everyone’s personal circumstances are different, of course; we don’t have children, for example, but raising my taxes another, say, 10 to 15 percent wouldn’t change my lifestyle. I wouldn’t like it one bit, but with expenditures I’m able to write off yearly in addition to deductions for certain assets, I recoup a higher percentage of what I’m taxed than someone making, say, half my salary anyway, so I really don’t understand Republican’s cry to protect those making upwards of a million annually. Also, I think it is a misperception that millionaires drive job growth. There are many, many people in this country who make multiple hundred thousand dollar salaries who are just working schlubs like me. We don’t own companies and we don’t drive crap. We save and invest a high percentage of what we make. I don’t buy, at all, that someone making 4 or 5 times my salary, or more, needs protecting. There are so many loopholes in the current tax code that are skewed to benefit the wealthy that some end up paying little real tax personally.
Rant over.