CNN: What Obama means by tax the wealthy

[Amerigo Vespucci]

To start, Obama frequently cites $250,000 as the line between those who would be subject to higher taxes and those who wouldn't.

Indeed, under Obama's tax plan, married couples with at least $250,000 in gross income are likely to see their taxes go up if Obama is elected president.

But what about single filers? The line for them would likely be about $200,000, according to an Obama adviser.

Those groups could end up paying anywhere from several thousand dollars to tens of thousands of dollars more to Uncle Sam than they do now, according to estimates from the Tax Policy Center.

From income to Social Security to estates, we take a look at four areas where the high-income set and the very well off may be subject to a bigger tax bill in an Obama administration.

Obama would restore the top two income tax rates to their pre-2001 levels of 36% and 39.6%. Currently they're 33% and 35%.

http://money.cnn.com/2008/06/27/news/economy/obama_wealthy_taxes/index.htm?postversion=2008062809

[ChimpersMcSmirkers]

1. Works for me...The folks in these income brackets have made all the gains in the last 10 years, time

to pay a little back...

[mrreowwr_kittty]

2. And don't forget, that's adjusted income

That's if you have $250,000 left over after you take all your deductions, which are usually considerable for affluent people, particularly if they have a lot of business expenses. I am NOT crying in my beer for anyone who gets a tax increase under an Obama Presidency.

[Faygo Kid]

3. Ohmigod. Not a pre-2001 economy. How horrible that would be.

Not.

[CrispyQ]

6. Ya know, if the dems phrased it that way,

"a pre-2001 economy" the middle class might wake up & stop voting against their own economic interests.

I remember in 2004 a photo of a group of young kids holding up signs thanking boosh for his tax refund. :wft: A $300 tax rebate bought their vote?

This fear people have of paying taxes boggles me. Our bridges are collapsing, our highways are full of potholes, our levees are bursting - oops, my bad, that was the fault of the muskrats! :eyes: But you get the point. Anything to not pay taxes, even though the greatest tax breaks go to those who can afford to pay more. I only hope that with each trip to the gas station & grocery store, more & more Americans are waking up to the failed policies of the GOPs trickle down economics.

[corkhead]

15. republicons have successfully made a vote for them a vote for the American Dream

even though it has become completely unattainable for most of us. It is still too difficult to vote against the American Dream for many of us, even though it is obvious to all but the most dense that it is just snake oil.
'

[mtnsnake]

4. That's good but the ones who really need to up the ante are the filthiest of the rich

....the ones making 7 figure salaries and who have worked their way up the ladder by pushing little people into the gutter. Some of these people who make obscene salaries are also cashing in on exorbitant stock options which can total in the 20's and 30's million range. These are the ones we really need to go after in a BIG way. I mean, when you're worth 10, 20, or 30 million, how much more do you really need to enjoy a happy life? When you're worth that kind of bread, it's time to give back some of it to the ones you shorted and fucked over in order to get where you are.

[NYC_SKP]

5. What mtsnake said, I agree with him and the OP and...

MOST definitely agree with Obama's approach to making Social Security solvent.

Why the hell didn't the number two "also ran" not agree with this one point?

[RC]

9. Ahhh..., maybe she a DINO?

[NYC_SKP]

10. Yup, that's long been my secret theory.

Shhhh. don't tell.

Seriously, it's fine to rally around Universal Health Care that someone else is paying for.

How about regulating the fucking industry first, instead of mandating the existing fucked up program?

Stop it now, he said to himself.......

[Radical Activist]

7. Are they doing a story on who gets a tax cut

and what those income levels are?

[dman]

8. Tax the CEOs

There should be a tax bill to tax just the CEOs of corporations making more than 10 million in COMBINED salary and stock options. Leave the little guys alone. Hit the top dogs.

[intheflow]

12. People making $200K, or couples making $250K are the "little guys"?

:wtf:


Median US household income in 2006 according to the census bureau: $48,201. Even adjusted for assumed wage increases, that means households making $250K are making about five times the amount of the true little guys.

[dman]

16. Yes they are the little guys...

...compared to CEOs making 10 million and up... What do they really do to to deserve that much? Hold a few meetings and play a round a golf?

Remember, 100,000 or even 200,000 doesn't go that far in places like New York City or San Francisco.

[blondeatlast]

17. Exactly; think of McSame's possible running mate, Carly Fiorina. She ran

a very successful corporation (HP) into a mountain and cleaned up--all while famously saying "Americans think they have a God-given right to a job. They don't."

Welcome to DU, btw. :toast:

[ladjf]

11. That seems about right to me.

[MrSlayer]

13. A good start.

But the super rich can afford even more.

[ihavenobias]

14. 90% of Americans would pay less under Obama's proposed plan compared to McCain's...

That startling fact should be spread far and wide: http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x6410712