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pitchfork time
May. 23rd, 2010 06:27 pmSeriously. I can hardly believe this article:
http://www.nytimes.com/2010/05/22/your-money/taxes/22wealth.html
Basically, because the percentage increase in taxes is so trivial (5% of income or less in the biggest examples, and in some cases, about a tenth of a percent), the people describing the tax increases went with dollar amounts. Really!
"He said he wanted to draw attention away from percentages. “Nobody thinks about what it is going to cost dollar-wise.”"
Honestly? If you have $3 million in income a year, I'm pretty sure that $35K is noise.
If these people think that paying these kinds of taxes on this kind of income is a problem, we need to really bring the hammer down.
http://www.nytimes.com/2010/05/22/your-money/taxes/22wealth.html
Basically, because the percentage increase in taxes is so trivial (5% of income or less in the biggest examples, and in some cases, about a tenth of a percent), the people describing the tax increases went with dollar amounts. Really!
"He said he wanted to draw attention away from percentages. “Nobody thinks about what it is going to cost dollar-wise.”"
Honestly? If you have $3 million in income a year, I'm pretty sure that $35K is noise.
If these people think that paying these kinds of taxes on this kind of income is a problem, we need to really bring the hammer down.