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Re: Taxing the rich - what is the cutoff?
Quote:
Originally Posted by Schneed10
Not for a couple making exactly $250K. They would not be affected at all. They make 0 in excess of $250K. 3% of 0 is 0. Me = good at math.
A couple making $300K would pay an extra 3% on the $50,000 in excess of $250K. 3% of $50,000 is $1500 per year.
The extra $50K a year in income would allow someone to cover the student loans you mention, the daycare, and the $1500 extra in taxes, and still fit just fine into the budget I laid out.
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Yes, you are correct on the 3% - my bad. I still disagree on the budget, though.
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