Conflicting reports show that the administration is planning on raising taxes for people making over $250,000 or $208,000, depending on the source.
An increased tax burden for these groups came from a reduction in the ability to deduct interest paid on a primary mortgage, as well as increases in the top two tax brackets by anywhere between 9% and 13% over the current 33 and 35% top tiers.
Someone really needs to explain to me why this is fair. People making $250,000 a year pay between 33 and 35% now, which is already 5-8 percentage points higher than most of America.
That’s not enough? We need to tax at a rate 40 to 50% higher than the middle class instead of 35% to 45%? Why not just cap everyone’s salary and hand out bread rations. Then everyone would get exactly the same thing, and none of us would have to work hard for it.
Maybe they should double the cost of health insurance for those making $250K or more. Or, increase the tolls paid on our highways by rich people. That seems just as fair.
I’m going to get off my soapbox now.