Commanders Post at The Warpath - View Single Post - Taxing the rich

onlydarksets · 06-13-2008, 03:05 PM

Interesting article about what constitutes "rich" from a practical standpoint as opposed to the political rhetoric about top percentiles.
Taxing the 'Not-So-Rich' Rich

The gist is that many people who fall in the top 2% of household incomes (projected to be about $250k/year for married couples) aren't basking in luxury. Often they live in areas with high costs of living and some are repaying school debts, which were required to allow them to get to the higher salary. These people would feel the squeeze of an extra 3-4% in taxes.

I don't have a feel for whether those in this situation are a significant percentage of that "top 2%" population or not. I do think that $250k/year puts most married couples in their 30s with 2 kids and a mortgage living in a top 20 metro area in the "comfortable but not secure" range.

06-13-2008, 03:05 PM	#1
onlydarksets Playmaker Join Date: Nov 2004 Location: all up in your business Posts: 2,693	Taxing the rich - what is the cutoff? Interesting article about what constitutes "rich" from a practical standpoint as opposed to the political rhetoric about top percentiles. Taxing the 'Not-So-Rich' Rich The gist is that many people who fall in the top 2% of household incomes (projected to be about $250k/year for married couples) aren't basking in luxury. Often they live in areas with high costs of living and some are repaying school debts, which were required to allow them to get to the higher salary. These people would feel the squeeze of an extra 3-4% in taxes. I don't have a feel for whether those in this situation are a significant percentage of that "top 2%" population or not. I do think that $250k/year puts most married couples in their 30s with 2 kids and a mortgage living in a top 20 metro area in the "comfortable but not secure" range. __________________ Stop reading my signature.