Taxing the rich - what is the cutoff?

[Schneed10]

Originally Posted by onlydarksets

I think it's interesting that "$250k is comfortable, not rich" has been mischaracterized as an argument for $250k not being enough to live on.

Anyway, I agree it's time to move on. Where's SS with one of his "Understanding the issues" threads?

Yeah it's important not to get it misconstrued.

I think the budgeting exercise we went through, in consideration with your input on childcare and student loans, shows that $250K is a good cutoff for a 3% increase in the tax rate.

Those making $250K, even in a worst case where student loans and daycare were through the roof, would pay 0 in new taxes. Those making $300K would pay an additional $1500 per year, and it's been shown here that if you make $300K, you can afford a very nice lifestyle and big daycare costs and massive student loans.

But no, $250K per year is not "rich."

[firstdown]

Originally Posted by Schneed10

Yeah it's important not to get it misconstrued.

I think the budgeting exercise we went through, in consideration with your input on childcare and student loans, shows that $250K is a good cutoff for a 3% increase in the tax rate.

Those making $250K, even in a worst case where student loans and daycare were through the roof, would pay 0 in new taxes. Those making $300K would pay an additional $1500 per year, and it's been shown here that if you make $300K, you can afford a very nice lifestyle and big daycare costs and massive student loans.

But no, $250K per year is not "rich."

Or maybe people could do with less have one parent at home and do away with daycare cost. I guess thats a whole nother thread for another day when things are slow.