Do you earn $250,000 or more?

[Applan]

Simple question: Do you earn $250,000 or more?

[yellowdogintexas]

1. not just no but HELL NO, both of us together don't gross that much. nt

[MindMatter]

10. The AGI point seems to be lost in this discussion

As you point out, the real question is ADJUSTED GROSS INCOME -- after deductions. There were a couple of very fortunate years in the Clinton days when my FAMILY gross income might have come close to $200K, and that is so far above the average that I really counted my blessings.

But after deductions, it was nowhere near that high. People who have TAXABLE income above %250,000 are very, very, very well off and can certainly afford to have their taxes return to the same rate they had under Clinton. It most certainly didn't hurt them then. Quite the opposite. The rich did better under Clinton than they have done under Bush.

And another point that goes completely over the head of the JoeThePlumbers out there: if you have an adjusted gross of, say, $300,000, you will pay the higher rate only on that last $50,000.

[A HERETIC I AM]

21. It seems to me that many misunderstand the concept of a tax "bracket"

Perhaps not DU'rs, but many others out there seem to think that if a tax increase of a particular income level comes along, it affects the entire amount one makes.

Thanks for pointing this out. A simple concept that seems lost on many.

[BlooInBloo]

32. That never got publicized enough.

[dixiegrrrrl]

17. Stupid me worked only in non-profits.

So never got paid much, averaged about 30 K a year.
Lived cheaply tho, made it stretch.
Mr. D. did a little better, not much.

His 23 y/o daughter, a beautiful young lady, is making 50k plus this year.
But she lives in Ca. so spends most of it.

I have so many mixed feelings about that.

[sutz12]

2. Earn? Whazzat?

:shrug:

[kundalinirising]

3. Surely you jest...

Last year, I believe my partner and I just barely made it above poverty level. But all is well anyhow :)

[Applan]

5. Jest, me?

No, I leave that up to McCain and Palin. They are the ones who are trying to convince 98% of us to give more money to the other 2%.

[Connie_Corleone]

4. Not even close.

[Idealism]

6. according to statistics:

Average worker makes: 44,000 /yr

that isn't even take home pay, thats before taxes.

[TahitiNut]

7. Well, I've earned it but I've never been paid it.

:shrug:

[dixiegrrrrl]

16. I know what ya mean.

[Mojorabbit]

8. Gross that amt

but net waaaay less than that.

[Earth_First]

9. No. "Larry the Landscaper" does not make that much... n/t

[madrchsod]

11. i made 0 this year....

[Liberal_in_LA]

12. no, wish I did.

[Sparkly]

13. Over how many years?

:P

[BlueIris]

14. Had to go with "none of your business."

But that's me.

[Maine-ah]

15. under 50k combined.

[DailyGrind51]

18. My idea of "dinner out" is a coupon at Subway!

I'm still lucky I can pay my utilities bills and real estate taxes!

[PfcHammer]

19. Zimbabwe?

Then yes.

[armed_and_liberal]

20. yes, but not taxable

My wife and I have good jobs and (formerly) good investment income.Jointly we grossed a little over $250K for a couple of recent years, BUT! when it comes down to actual TAXABLE income( line 43 of IRS 1040) we were well below $250K.

[Lucian]

22. Hell no.

[proud patriot]

23. nope

both mine and my husbands' combined income came to
just under 35k ,, in the bay area that means very
broke all the time and not qualifying for any assistance
to help ease the burdon . Remember lots of medical visits
for my disabled son .

[entanglement]

24. I was about 20 feet away from $250,000 once...but there was a foot thick wall, steel doors and a

couple of armed guys in the way. :rofl:

[MrSlayer]

25. No. About half of that.

I'm one of the last remaining true middle-class workers.

[Zhade]

29. THAT'S middle-class?

In what country?

[MrSlayer]

34. America.

This is what the middle class commonly once was and is supposed to be. Good Union job with great benefits and a salary that allows you to pay your bills, save a little and take a vacation every year. That's middle class. I'm fortunate enough to live in a strong Union city. As the Union jobs have fled this country or been shut down and shut out by "right to work" legislation, so has the middle class been diminished. We still have the tools in this country to help ourselves and the main tool is organization. We need to get a Union mentality back in this country.

[Hannah Bell]

35. but half of households make less than 50K. So that would be the actual "middle".

[ThePowerofWill]

26. Yes, and no.

I have made $250,000 a yr a couple times selling drugs, and one very good year when i was fighting professionally. During the drug years i grew large amounts of grass before operation Green Merchant. Never was a world beater as a fighter, but i had a good year or so through incentives for taking tough fights on short notice.

That was well over 20+ years ago though. Combined farm income, and income from my industrial job is about $50,000. Works out too about $12-15 bucks an hour considering i work 12-18hr days 6 days a week.

[haele]

27. Hope you paid your taxes on the net during your "Agricultural Specialist" years -

That's how they got Al Capone.

(Think of how much more revenue the State and Feds, as well as locals, would get on the taxes for a business like that! Of course, if it were legal, you probably wouldn't gross as much.)

Haele

[ThePowerofWill]

39. Actually that was one of my reasons for fighting.

It was a good way to help "wash" the money. I could claim sponsorship fees etc.

[mwooldri]

28. Yes I have earned more than $250,000 combined with my wife.

In our lifetime, yes. Not per year.

Mark.

[dysfunctional press]

30. even though the cola on my disability is 5.8% this coming year...

it's gonna take several lifetimes to get it up to the $250K neighborhood.

[mirror wall]

31. My combined family income will be over 250k soon.

My husband and I currently work for a charitable organization in Africa, but when we return to our corporate jobs in New York next year, we'll easily be over the 250k range. I understand that I will have to pay additional taxes under Obama, probably to the tune of several thousand dollars. GOOD. Seriously, I think that the percent should probably be higher than what he's proposing. People in my bracket have more than enough for themselves. Obviously, I personally have given a lot to charity in terms of 'lost' income already over the last four years (and more in cash donations to charities I don't work for besides (Africa was his idea-- I'm more concerned about America these days, frankly)), but not many people I know who CAN make the kind of cash I can deign to do anything with it other than festoon themselves with the obscene trappings of excess. Like I love to say, look at Scandinavia. It has the highest rates of taxation in the world, even income caps (of sorts), and it also boasts the highest Human Development Index scores, the lowest crime rates, etc. The super rich are strangling the rest of the western world. It's time to take tax levels back into the realm of reality. This is the first step.

[SalviaBlue]

33. No. And we own a small business.

[Terran]

36. Wow, 14 people have incomes that high??

Nice--I hope you all are supporting DU!

[Throckmorton]

37. Yes,

I do actually, and I still vote democrat.

[Throckmorton]

38. Yes,

I do actually, and I still vote democrat.