Do you earn enough to be affected by Obama's tax plan

Based on other income polls I've seen on LIF a fair share of us WILL be taxed

Re: Do you earn enough to be affected by Obama's tax plan

yes, we will be hit HARD if Obama is elected.

Re: Do you earn enough to be affected by Obama's tax plan

we're safe for a couple of years, but... i also wouldn't say "i don't feel bad for people making $250K+". That's the problem with all of this stuff... people only think about the way it affects them directly (like, no extra taxes will be taken out of their check), so they vote based on that. Just b/c you're not making $250K, doesn't mean that tax increases on those that are won't affect you INDIRECTLY. It's shortsighted and just a bad plan, no matter how appealing Obama can try to make it seem with proper marketing.

Re: Do you earn enough to be affected by Obama's tax plan

This is how I look at it...everything is relative. We ALL pay in one way or another.

Re: Do you earn enough to be affected by Obama's tax plan

I actually agree with the plan. I don't make that salary so I will not be hit but I do think that it makes more sense to tax the people who are sitting pretty right now then the ones that have to choose between paying the LIPA bill or buying meat for the week. JMHO

Re: Do you earn enough to be affected by Obama's tax plan

for those of you who make $250K or more, you should know that it's patriotic to pay more taxes.

according to Biden

Re: Do you earn enough to be affected by Obama's tax plan

Re: Do you earn enough to be affected by Obama's tax plan

Re: Do you earn enough to be affected by Obama's tax plan

i wish.

Re: Do you earn enough to be affected by Obama's tax plan

I wish we made 250K!!!

Re: Do you earn enough to be affected by Obama's tax plan

Posted by neenie

Posted by CathyB

Posted by SweetestOfPeas

for those of you who make $250K or more, you should know that it's patriotic to pay more taxes.

according to Biden

Lucky for him he'll have plenty of cash on hand to pay the "patriotic" taxes since he's so stingy with his charitable giving.

and, doesn't waste his $$$ on decorative [american flag] lapel Pins (though, i do hear that he has a Bracelet)

Message edited 9/27/2008 5:48:22 AM.

Re: Do you earn enough to be affected by Obama's tax plan

Re: Do you earn enough to be affected by Obama's tax plan

Message edited 9/27/2008 6:58:29 AM.

Re: Do you earn enough to be affected by Obama's tax plan

Re: Do you earn enough to be affected by Obama's tax plan

whats with the "i dont feel bad.." comment

seriously. we all work very hard for our money..
i think thats rude.

Re: Do you earn enough to be affected by Obama's tax plan

Re: Do you earn enough to be affected by Obama's tax plan

I am more worried about Obama raising capital gains taxes, taxes on sale of your house, etc.

Re: Do you earn enough to be affected by Obama's tax plan

I was curious if this was AGI or gross and couple or single. From the tax policy center:

"Obama has proposed raising the payroll tax for those earning over $250,000. Again, he has not provided details, but TPC assumes this would be a 2 percent income tax surcharge on adjusted gross income above $250,000 for couples and $200,000 for others and an additional 2 percent payroll tax for employers on each worker’s earnings above those levels."


tax policy center

Re: Do you earn enough to be affected by Obama's tax plan

I wish!

Re: Do you earn enough to be affected by Obama's tax plan

I think the bottom line is that people can manage their money badly, no matter how much they earn. I don't really know people that make a combined of 250k.. but i know people that make more than us, and that doesn't mean they are doing better.. if anything WE are doing better.

That said- the tax code in this country is messed up.... I do think those that make more should pay a higher proportion of their salaries. Something has to change- we are putting out all this money and we have to pay for it.... the only way to do it is to take in more money- and to do that, someone is going to have to pay more.

I'd rather have the guy with extra pay more than the guy who already can't make ends meet. i'm sorry that there are those of you that feel it is punishment or that it isn't fair or that it will impede success, etc etc... but I really haven't heard any other solutions that make sense.

We know that tax cuts to increase revenue does not work. The extra money goes to entice CEOs and big-wigs to do a "great job" (in caps b/c we saw how great a job all these finance big-wigs have done). The extra money does not go to the little guy in the form of increased salaries. We know this because salaries adjusted for inflation have gone down, not gone up.

IT IS A FACT that the middle class is getting squeezed out. IT IS A FACT that people in the middle class are making less than they were 10 years ago. IT IS A FACT that trickle-down economics does not work!

So with that said, if Obama's plan isn't perfect, I think it's better than McCain's to continue tax cuts while paying lip-service to cutting spending....

What I got out of McCain was that he was going to cut-everything besides bomb-building, veteran services, and medicare.... sounds like a republicans dream! The truth is Republicans want to put everything on the "free market"... we've seen how much this free market has worked in the financial sector. Free Market doesn't necessarily = good.. and I think we have to get that out of our national psyche.

Wow- this got pretty long winded... but I think the point is.. the government needs money now- and we need a way of getting it. To say that we can just cut taxes and cut spending is a little short-sighted and unrealistic.

Re: Do you earn enough to be affected by Obama's tax plan

Re: Do you earn enough to be affected by Obama's tax plan

Re: Do you earn enough to be affected by Obama's tax plan

also -

I have a friend who is a dentist - while yes she makes a LOT of $$$, she is in about $150K in student loan debt- which she cant write off either because she makes too much $$.

Re: Do you earn enough to be affected by Obama's tax plan

Re: Do you earn enough to be affected by Obama's tax plan