1 million per year

[wiggs]

A threshold of one million dollars per year is being discussed as the point at which one is considered wealthy. Offered by a democrat. That's one million of ADJUSTED GROSS INCOME...after deductions. So a person making 1.4 million -- per year -- might deduct his or her way down to 900K and we're talking about no tax increases at that point?

http://tpmdc.talkingpointsmemo.com/2011/10/schumer-adopts-gop-argument-against-obama-tax-plan.php?ref=fpb

Is this threshold offered by dems just a foot in the door or a trap because it will make gop seem unreasonable to oppose it... or do they really think someone pulling down, say 500K, shouldn't go back to paying 1990's upper tier tax rates (ONLY 4% more than now and historically still very low) in order to put this nation on a stable footing again? Why go from talking about 250,000 (again, only on adjusted gross income) getting a 4% increase (and...only on income above the lower brackets, not on all income) to 1 million?

Aren't we in such poor shape economically that we need to talk about serious and substantial programs to deal with our issues such as bigger stimulus packages (instead of watered down compromises) and serious revenue enhancements? A tax increase based on a 250,000 threshold would yield small enough new revenue...why make it even smaller by limiting the target demographic? Why not battle for a 250K threshold and settle for 400K? Why start the discussion at 1 million?

[dkf]

1. Where does this leave the Bush tax cuts?

[onethatcares]

2. what does that do for my wife and I?

we make 53K a year with two incomes, no kids.

Every freaking year we pay at least 1200.00 to 1400.00 a year additional with every damn deduction we can find

[lumberjack_jeff]

3. Do nothing. Let 'em all expire. n/t

[lifesbeautifulmagic]

4. in my mind, it is just another reason for publicly financed

elections, because, let's get real here, when it takes $5,000,000 to get elected, our reps will always be catering to the wealthy, and in my mind, a mill a year is wealthy.

But then I make $13 an hour. and work my arse off for it.