NYT Warren Buffet - A Minimum Tax for the Wealthy

[mrcunning15]

This isn't Federal Income tax which is what we're talking about here. The argument from some on the right is that a change to the top Fed tax rate will curtail investment and job growth because it will impact all revenues in certain small businesses.

Get it, got it, good

[Larry]

You took the time to find these #'s but somehow didn't come up with any cost of living adjustments?

Well, actually, I did point out the cost of living.

See, that median household in SF that has an income of $63K? Well, their cost of living is $63K. (That is, unless you want to try to claim that their cost of living is lower than their income, and they're saving for their future or something.) See, they manage to live there, on that much.

Now, that median household might be one guy. He might be living in a rented apartment. The median household is not "the median family of four who own their own home".

Where is your well-supported, fact-filled rebuttal? Great when we only have to report half of the story.

You want some facts brought into the conversation? Let's see. What could we do about that?

I know. You could go out, find some, and post them.

Or you could throw out vague claims, supported by nothing other than putting the words "cost of living" somewhere in your post.

Good to know though that we can quit our jobs tomorrow and live our lavish lifestyles forever because we're rich! So can all of the married cop/teacher combos around here because they bring in that type of income also.

Just me, but I'd suggest trying to back up your first claims, before trying to make new ones.

(Actually clearly stating new ones might be a good idea, too.)

(That is, unless your point is dumb. Then being vague about it and not actually stating your argument might be a good idea.)

[JMS]

Hell man, given Mitt Romney paid 12.9 and 13.9 % income tax for the two years of returns he submitted while sheltering hundreds of millions offshore outside of the reach or the IRS... It doesn't seem to me that the effort should be to raise the highest tax rate. The effort should simple be to apply it across the board.

[mattsb84]

Sorry. But that is complete crap. Are you even taking into account cost of living differences around the country? Are you seriously saying 250k in the NYC area is rich? Yet if we moved to the midwest making maybe 75% of that with the same standard of living we have now we would be middle class. That makes absolutely no sense. You can't just put a simple dollar amount on middle class. Sorry, but we are middle class here. Certainly not poor, but if you think we're living high on the hog on that type of salary you're blind.

Not sure where you're trying to live in NYC or what your lifestyle is like, but 250k a year would make you rich in my book. I've lived here, very comfortably I might add, for over 5 years and I don't make anywhere near 250k.