Sorry, Pal, You're Rich

Who is this guy? What an idiot!! Sure compared to what most Americans earn $250K seems like a lot!! Thats an obvious conclusion any 6 year old can make by doing his simple math. However, that does not tell the whole story. I would argue that we should also look at what type of lifestyle you can live on a salary of $250K. To me that's what most important in defining whether someone is indeed rich. For example what about a family of four living in a nice house ,in a nice neighborhood, 2 nice cars, extra curricular activities for the kids, moms maintenance and upkeep, as well as saving for college. Can't he see how all this adds up!! I would further state that most Americans do not make enough to live middle-class life styles which is why so many supplement their income with credit card debt!! Hello. Making 250K this family is not using CC debt to supplement their income. Simply put is we compared what a middle class person in this country makes to what someone makes in a third word country this type of simple math would indicate that this middle class person is super-rich. Again, only looking at income relative to third-world income. However, if you look at what this middle class income can buy ( in US) you get an entirely different picture.

I managed to listen to some of the speeches at the DNC. The one consistent theme is: we need to spend more money; and, we need to take it from those rich people who Bush gave all the tax breaks to. I have always wondered why no one points out that the so-called progressive tax rates that were initially established with the original income tax were completely arbitrary and had no basis in fairness. Even in the time of Reagan the max rate was 70% before he pushed through the first tax cuts.

I currently pay at the maximum rate. Between State and Federal taxes we are talking just under 50%. I am now expanding my practice by adding another dentist and corresponding staff....I am creating new jobs...I can tell you that if the tax rate were to return to the repressive and unfair levels pre-Bush or even pre-Reagan I would think twice about taking the risk and the stress of expanding my business only to have to give back most of any increase in profits back in taxes.

Americans and Congress need to recognize the purpose of the tax code should be to maximize the tax revenue and the economic potential of the economy. That does not happen by just increasing the taxes on the "rich". Rich people's money works for them...I work hard for my money. Rich people can just choose not to play...then there is nothing to tax...the rest of us can choose to play less...less to tax....Reagan understood this better than anyone.

Bill Clinton benefited the most from the Reagan tax cuts....

Maybe I am rich (although I certainly don't feel like it - and it has nothing at all to do with my neighbors!). I make (slightly) over $250K a year. The relevant question is how did I get here? While others were partying at a local bar, I was sloshing through the mud in Quantico Virginia training to be an officer of Marines. While my peers were enjoying their young kids, I was studying for my MBA and my 2nd Masters degree. While my friends were watching Monday night football, I was no doubt working late. My point, of course, is that I've worked hard to get to here. Why should I be penalized for working hard and taking risks?

$250,000 a year is middle class if you have 8 or more children. Get real. By the standards of the average American, such an amount is considered wealthy. I say tax the wealthy, screw 'em. If they aren't smart enough to understand why they should be taxed more, then they don't deserve their wealth in the first place. Only in America would they be allowed to live such a dream, and yes, there is a price to pay for all that comes with it. Helping out our fellow man is essential to our country and what we supposedly stand for.
TAX THE RICH!!!

People talk about liberals taking money away from hard working people. What does that mean? If it means that the government should not build roads and infrastructure, fund basic education, look out for the welfare of ALL it's citizens then I'mfor it. We are judged by how we care for the least of our citizens. I don't mind paying taxes so that I have roads to drive on and my children have schools to go to. The question is not wether we should pay taxes but ho the taes are spent, wether we waist this money or use it for the enrichment of our country. Of course ths is the question, what is the enrichment of our country? What I believe should be our priority and what others believe are not necessarily the same. That is why we vote, have discourse, and try to decide as a democracy what direction we should go. So if only 1.9% of the nation earns more than $250000 and only 20% earn more than $100,000 then the majority of people seem to be in the below $100,00 range and the majority should rule in a democracy. Is this the case?

Thankyou for setting the record straight! It is about time someone/anyone in this country realized that the poor have been supporting the rich for too long. Out tax "system" is long overdue for changes so that everyone is treated fairly and everyone pays their fair share. Can you say straight tax by percent of income with NO deductions or allowances. I know this would put a lot of tax lawyers out of work but maybe they could find a real job with all there training

how many of you rich people actually make 250,000 a year, the stats show that 2 percent make over 250,000 a year not 250, 000 so the fact is the rich make alot more than that and the real percentage of people making 250,000 yr is much smaller. The rich are rich and they will alway complain and moan how hard they work for their money, yadda, yadda. Well so does the guy cutting your yard, or fixing your car, alot of Americans bus their but to make it and unlike the rich they sacrifice alot more then rich, both financially and physically. When i start complaining how bad i have it at 50,000 yr, i think about the millions of people who work for minimum wage so that the rich can keep their extremely hard life, please. Rich people work hard like everyone else, pay the price like everyone else, and be quite, go vote republican. Remember elites are their constituence.

I'll say it right now. We make right at $250k combined a year and no we are NOT rich. My car is ten years old and about to roll the odometer, I have a mortage on my home that appraised at $165000.00 when I bought it five years ago, I shop at WalMart for our groceries and Target or Kohls for our clothes. I live in Dallas, TX which is very economical compared to other areas. So if that is rich I'm not sure what I'm doing wrong.

Flat tax and VAT are they way to go. Whether I make 250,000.00 or not is not the issue, the issue is that our current tax structure isn't working and quite frankly isn't fair. I know I said the f word. We are not a Socialist country, so we need to pony up whether we make 1,000.00 per year or 1,000,000.00 per year and we need to pony up fairly across the board. That means the rich don't pay for the poor to continue to exist. I know it sounds harsh, but we are all Americans and we all have to pay equally for America. A flat tax may not benefit everyone, but a flat tax is fair. Wealth distribution is another term for Communism.

My wife and I make $210K to $280K depending upon bonuses and we are MIDDLE CLASS!