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Originally Posted by gales0678
do people here believe that the top 2% of wage earners can be taxed at a rate to cover all of the new president's spending programs?
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Those 2% of wage earners earn 24.1% of all income and pay 43.6% of income taxes. So yes, upping the taxes on that group does make a huge difference.
Personally I feel it is about time they add another tax bracket. $250,000 just isn't that much money these days, especially if you are living somewhere like NYC. Add a tax bracket for $1 million and up instead of increasing the taxes on the people between $250,000 and $1 million.