Our new president wants to have higher taxes on folks that make more than 250K per year. Some folks are saying, hey, 250K is not doing bad, but that's not wealthy either... why are you taxing the upper class?
Other folks are saying, rich and wealthy are relative terms and the money has to come from somewhere and the taxing has to start at a certain level, so tough cookie to the $250,001/year folks.
I had a similar conversation with a friend who was raised by a single parent. When we were in college, he noted that anyone who lived in a household that made more than 100K per year is rich and should be able to pay for college. I was that person living in that household and my mom and stepfather essentially told me iaintgonebeabletodoit, when it came to paying for college.
[Bitter side note: The government paid his whole tuition and I'm still paying two car note's worth of student loans each month, putting him on a faster track for amassing wealth.]
Sorry, got sidetracker... The point is he was on the outside looking in, so he didn't notice that raising five kids costs a lot of money, not to mention the cost of living, private school tuition for my little brothers and a small vacation every five years or so. He wasn't trying to hear anything I was talking about though. He heard 100K and thought about what his mom made and said we must've been squandering our money away.
Now the couple in the article linked above has the same argument I had with my boy, but making 250K, not 100K. They have $1200 of disposable income each month, but still feel that that's just comfortable, not wealthy.
Also, here's a copy of the current tax code (got this from someone who commented on a post, so it could be all wrong)
10%: from $0 to $8,025
15%: from $8,026 to $32,550
25%: from $32,551 to $78,850
28%: from $78,851 to $164,550
33%: from $164,551 to $357,700
35%: $357,701 and above
What say you? Is 250K wealthy no matter what? Is some other amount of money wealthy no matter what? Do you believe in the current tax code?
Personally, I believe in a flat tax. I really do. I also believe in the scripture to whom much is given, much is required. And I would argue that if I make 1 million dollars and you tax 25%, much HAS been given. If someone makes $10,000 and you tax 25%, little has been given.
I know all the bible heads are about to kill me for this, but you know the story where the woman only had a penny or something and she put it in the church and then a rich man came and put less than 1% of his income or something in, but it was still WAY more money literally than her little penny. Then Jesus said the woman really gave more figuratively because that was all she had... I'm not saying Jesus is wrong, I'm saying YES, she gave more, but it's not like it was difficult for her give.
What was she going to do with that penny anyway? She wasn't going to get good interest on it. She couldn't invest with that bad boy. She probably couldn't even buy food. So she's looking at that penny like yeah, I might as well throw this at the church and see if Jesus can make it do what it do...
I'm just sayin'