Think it's okay to take money (increase taxes) from those more wealthy to give (decrease taxes or give tax credits) to people less wealthy?
This is just mind boggling to me, that anyone would agree with it.
Do these people really think it's okay?
What's the incentive to do better financially under the Obama plan, as your increase will be lessor so that others can "share your wealth"?
Yes, DH and I agree.
Yes, that 5%.
DH and I are a part of that 5%.
DH owns his own business and we make over $250,000.
If Obama is elected and if his plan passes than we would be paying 39% instead of 35% in taxes. Back to same tax rate we paid before the BUSH tax cut.
We live in Michigan. Every day we see how much the middle class is really hurting in Michigan.
If that tax increase that we will pay will be given back to the middle class in the form of a tax break than we feel it will be going to a good cause.
We feel that our country needs a strong middle class. It is usually the middle class that helps small business grow.
Just an FYI the increase really is a lot less than most think.
Per the Tax Policy Center, here is how Obama's tax plan breaks down for individuals:
$0-$18,891 = $567 tax cut
$18,982-$37,595 = $892 tax cut
$37,596-$66,354 = $1,118 tax cut
$66,355-$111,645 = $1,264 tax cut
$111,646-$160,972 = $2,135 tax cut
$160,973-$226,918 = $2,796 tax cut
$226,919-$603,402 = $121 tax increase
$2.87 million-plus = $542,882 tax increase
$603,403-$2.87 million = $93,709 tax increasehttp://firstread.msnbc.msn.com/archive/2008/10/28/1600845.aspx
Yep, DH and I are going to be spreading the wealth!
http://firstread.msnbc.msn.com/archive/2008/10/28/1600845.aspx