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SmallVoiceInBigWorld | Why was $250,000 decided to be the minimum for increased taxes, when...? |
...our president earns $200,000? Shouldn't our president fall into the increased tax guideline...and spread his own wealth too? I personally know families making 250,000 who barely meet their mortgage payment and some do not have health coverage on all the household members, just the kids. If this is going to happen, I feel 500,000 would have been a kinder minimum and would be less burden on fewer people.
Additional Details
For your info, Homer, the husband of one of the families I refer to is paying cash for dialysis, waiting for a kidney he may not get in time, paying cash for medicals since he can't get ins because his condition pre-existed before he was 25, the age he finally made enough to buy ins but didn't qualify. He IS paying on a life insurance pollicy to help his wife and kids when he dies, predictably before he's 50. He's 45 now. 4 of his remaining yrs will be under Obama's proposed tax increase. 250,000 a yr does not define one as wealthy. |
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Michael S
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The President's salary is actually $400,000. Therefore, there is nothing suspicious about the $250,000 minimum for the increase.
Why was $250,000 chosen? Because, for joint filers, this is ALREADY the cutoff point for the highest tax bracket.
As for the health care issue: I can believe that if you're on dialysis and you're paying for it out of your own pocket, $250,000/year is really not that much of a salary. All the more reason we need to do something about the high cost of health care. |
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Judy1
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Nothing is "decided". This is campaign rhetoric. If there is a tax change, Congress has to pass the law changing it, a president can't change anthing himself about taxes. |
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kat k
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I agree with you , i never thought about it like that really. write a letter to your congressman haha goodluck |
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jo614
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Because Joe Biden made $248,000 last year |
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Clark Kent
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It was a good, round number that he thought wouldn't scare off too many voters and he was hoping people with lower incomes would be jealous of the higher-income people and would like to see them get shafted. |
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ART
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It has to do with class envy. 250,000 sounds like a whole lot so any one who makes that much is easy to hate.
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wartz
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Pick a number, any number. Congress will pick its own if it picks anything at all.
The President gets more than $200,000 per year. |
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ittsparkles
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Well, usually the president is pretty wealthy before he get in office. His income exceeds the $250,000 for the tax break because usually they have invested their money.
Good question. |
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Homer
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If anyone makes 250k and can't afford health care for their family, they are doing something very wrong.
The president will fall within the new tax guideline. 200k is the salary a president is paid, not their entire income. Prior to becoming a president, these indivudals are already wealthy and have significant investments.
For example, the G.W. Bush reported an income of 719k for 2007.
http://www.cnn.com/2008/POLITICS/04/11/bush.taxes/index.html?eref=rss_latest
As for why 250k? That is new definition of a rich person. And it isn't really a NEW increase in taxes, it's reverting to back to the old taxes under the Reagen administration. |
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celebrate
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do you really think any of these people with the side stuff they have going on really only earn that amount for President? OK, no they don't. No, I disagree $250,000 is perfect & I am sure Obama has the greatest minds that figured out that amount not only based on what people can afford but on what we need. |
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