Sorry, Pal, You're Rich

Those that make $250k+ and are trying to compare themselves to a middle class guy, just doesn't wash. You all say you are struggling to make month to month bills just like the middle class guy, but, there are big differences.

Your mortgage payment is probably at least 2X the middle class guy because you chose to buy a big expensive house in a very nice neighborhood. Your car payment is probably 2X the middle class guy because you chose to buy a nice luxary car. Your electric bill is probably 2X the middle class guy because you have so much more square footage in your home than the middle class guy. and on, and on.

So, it's just not fair to put yourself in the same category with the rest of us. I absolutely do not begrudge you. It's great that you've done well for yourself and your family. But, let's be honest.....you just making ends meet and the middle class guy just making ends meet is two different worlds.

"Rich" is subjective of course, I'm active duty military and $250K is to me an unimaginably huge sum. That being said, I believe we should all pay the same percentage of our incomes, regardless of how large or small they may be.
Being in the military I can make an educated observation on where a lot of our hard earned tax dollars go; they go to wasteful, unecessary items and projects. The way the government budgets are run, where you must spend ALL the money you are budgeted in order to receive the same amount in the next fiscal year results in huge waste. I've witnessed absolutely appaling waste in the military because of this. One day I found my old reliable laser printer had been replaced by a very large, noisy, slow and expensive color laser printer. Nothing wrong with the old one, in fact I preferred the old one, but "the money had to be spent". That's a minor example. I've seen tens of thousands spent on big screen flat panel televisions, video editing equipment (never used, not once) and various other high dollar items. Just to justify getting the same amount the next year. I've seen the same thing in the National Forest Service and their fire fighting operations.
If we were to clean up all the waste, fraud, and abuse we wouldn't be talking about tax increases for anyone.

I think the truly fundamental question is finding that magic tax rate over a certain income ($250K for this discussion) above which the take home amount ceases to motivate one to work harder or invest in growing their business. Let's say the top Federal tax rate goes back to the bad ole' days of 70%. If I knew that I would get to keep less than 30% (State & local taxes included) of anything over a certain income, I wouldn't be very motivated to work harder or grow my business.
I'm sure no one is planning to take the top rate back to 70%, but I do wonder at what rate one's incentive to work hard and grow one's business begins to wane to the detriment of our economy?

I think all workers making under $100,00 a year should not show up for work for two weeks.

Then maybe all of you "poor" folk making 250,00+ would finally understand that we're all in this together.

My wife and I combine for very close to $250,000 a year in salary. The past 6 months or so, we have been hit hard by the economic downturn, though we are both still employed. I can safely say that even though it sounds like a lot, we struggle month-to-month to make ends meet, and our ends are no different than anyone elses: Food, gas, bills. That's the best definition of middle class I can think of: If we were to experience one financial bump (ie medical bill, unemployment) we would be totally thrown into disarray.

My wife and I combine for very close to $250,000 a year in salary. The past 6 months or so, we have been hit hard by the economic downturn, though we are both still employed. I can safely say that even though it sounds like a lot, we struggle month-to-month to make ends meet, and our ends are no different than anyone elses: Food, gas, bills. That's the best definition of middle class I can think of: If we were to experience one financial bump (ie medical bill, unemployment) we would be totally thrown into disarray.

I don't make $250K. The people who make $250K make all the things I buy. Raise your hands if you want to take a pay cut. Higher taxes always effect the lower income people most(.)

I make over $200k, but i also have over $200k in student (graduate) loans on top of a mortgage, car payment, utility, insurance, and association bills. Plus I need to put food on the table and clothes on my back. Rich? More like just making ends meet.

I would say that people who make 250,000 do not complain they do not have enough. They do have enough. They have enough to be secure in knowing so long as they have their job that they can afford to live as they do and pay for the things that they do. People who make 250,000 Lost HALF of that in taxes. So in the end it is only 125,000 and Barack wants to penalize them even more? It is the american dream to be safe and secure and in no way should you be penalized for having achieved it. I would even say, come and join those who make this much. My father, whom I speak for, only began earning this much in the last 8 years. What do youk now about 'shouldering' the cost of every one else? That is not any ones responsibility but your own. He was 1 of 5 children from a WW2 Veteran, and began working at Dupon as a Assembly line manager and worked his way up from there. It took him his whole life to get where he is and now he is retiring at the age of 65. The Ultra wealthy, whom you all think people like my father must be are small. They are the ones like Bill Gates and the founder of Apple, who donate alot to the social programs of the United states in order not to pay personal Taxes. Why do you want to Tax the PEOPLE EVEN MORE?! Go after the business's that make billions a year in profits, and the oil companies, but leave the American people alone. We are all one people rich middle or poor. Do not lay the blame or point fingers saying these people are not paying enough. Why should they? Why should my father have to pay already, half of his earned money, and then MORE as you say people who make 250,000 should? What do you know about people that make this much? How cold and jaded you must be when you feel that people who made it to this point are suddenly undeserving and not 'shouldering' their burden of the government and social programs for making it to this point. And Neither should You. Remember we are all one people we are not a people divided. If you start singleing out certain groups then you divide the nation in your mind and in the eyes of the public. We all want to reach that point of security. But until you reach that point I am sure you feel secure in pointing fingers at those who have saying shame on you for not doing your part, you should have to pay more.

First, let's dispose of the myth that all of those who make 5X the median income "work hard" and those that barely squeek by "choose to". I work two jobs and gross roughly 85K/year, do all of my own home improvements because I can't afford to hire someone to do them for me, haven't taken a vacation since 2002, go out to dinner about once every other week, don't have any kids, drive a Mazda pickup, and for fun I play golf about once every three months, and I live pretty much paycheck to paycheck. Now THAT'S middle class and I dare anyone to tell me I don't work harder than anyone who makes $250K/year. I say if you don't like how much you get to take home from your paycheck, quit whining, work harder and make more money. Isn't that pretty much what you tell everyone else to do? If you are netting $150K a year, seriously, cry me a river. Generations before us knew they had to make sacrifices for the good of our country, to keep it strong and to ensure the next generations would be secure both financially and domestically. It's time we all bucked-up and realized we have to start making sacrifices as well.

As you noted in your article, being rich is to a degree as state of mind and is relative - not only to ones geography but also how one chooses to live.

The definition of rich is not really the issue here - its what level of taxation (and aggregate tax burden) is fair/reasonable to this so-called defined "rich" group of people. Taking more than 50% of ones earnings (in the aggregate) for taxes (of all types fed//state/ local income taxes, soc sec, medicare, etc.) seems to be unreasonable on its face particularly if that 1.9 % "rich" group is paying a substantial portion of all taxes and a large percent of the population pays no taxes (or even gets tax money given to them via tax credits) - as my mom often told me a person will value something they need not work for (or pay for via taxes).

Instead of assuming the only way to fix the problem is to take more money away from an ever smaller and smaller goup of "rich" people we could (perish the thought) prune our spending and live within reasonable means - as my mother also often said spending other people's money is much easier than spending your own.

The designation Rich and subsequent arguments defining Rich can be semantic at best. However I know Rich people and they are far above the $250K amount. Rich used to mean not needing to work, not making $250 and still struggling to save for retirement, college, inflation, local taxes and GAS. Quality of life for most is suffering. Rampat greed with no oversight on reasonable margins is killing us. Death by capitalism for many things that should be a right a best. Hey maybe we can sell ice to Alaska?