(no subject)

[jfb]

Obama's tax plan will hit Silicon Valley hard, San Jose Mercury News, 2/28/2009:

President Barack Obama's tax plan, which would boost income taxes on those earning $250,000 or more a year, would affect about twice the share of taxpayers in Santa Clara County as in the state and nation.

... But high-earning valley taxpayers who have been paying the so-called alternative minimum tax may get a little break. People at the $250,000 to $400,000 income level are likely to be hit less hard by the Obama tax plan in high-tax, high property-cost states such as California, because their exposure to the AMT will be reduced as their regular tax bill rises, explained Clint Stretch, managing principal for tax policy at Deloitte in Washington, D.C.

The good news is, you are not going to get hit as hard by the taxes that the president has proposed, he said. The bad news is, they've already been hit by the AMT.

How about "The good news is, you make three hundred thousand dollars a year"? Except for one paragraph, this entire article is about how the tax plan will affect rich people.

Comments

[dougo.livejournal.com]

If you make $300,000, you'll pay an extra 5% on that last $50,000. So, less than 1% of your total income. Boo hoo.

[oh6.livejournal.com]

I have difficulty getting exercised about any tax increases I have heard of so far, since while it's rude to bring it my income in mixed company in Toronto, I have yet to be affected by any of them in the slightest.

[oh6.livejournal.com]

bring UP my income, gah

[jfb.livejournal.com]

Bring up my income, too, please! Oh wait, you mean like "bring up".

[greyaenigma.livejournal.com]

Color me infuriated. (By the complaining, not the taxes.)

[xythian.livejournal.com]

Where are all these people that make more than $250,000 a year that the news obsesses about? Isn't $250k something like the 98-percentile? I've seen a lot of news coverage for something affecting less than 2% of households.

geez, no kidding

[talking-sock.livejournal.com]

Also, how about the good news that your tax dollars will go to help the country and the world, rather than sit in piles in Iraq? Or get lost in piles, or make bombs, etc?? I owe about $10K this year it turns out, and you know what, I'm relatively okay with it now.