Skip to main content

View Diary: The 2008 delusion we should not repeat in 2012 (155 comments)

Comment Preferences

  •  $39.60 not $396.00 (10+ / 0-)

    $1000 x 3.96% =$39.60

    That's the difference in policy

    The $1000 over $250,000 would be taxed at 35% or $350.00

    The $1000 over $250,00 would be taxed at $389.60 or 39.6%

    Bottom line, the argument is over $39.60 using the $251,000 dollar marginal tax rate comparison.  

    •  Oops! you're right! (5+ / 0-)
      Recommended by:
      tofumagoo, elwior, StrayCat, rapala, Dburn

      I forgot to take into account what that $1,000 would be taxed at the current rate. Shouldn't try to do math before my second cup of coffee!
      It's just insane for the Republicans to be kicking and screaming over so little money! So little for the average taxpayer, at least. The richie rich will end up with much higher tax bills if their other sources of income--like capital gains--are taxed at Clinton levels again but they really can afford it.

    •  You are both wrong (6+ / 0-)

      The old tax rate is 35%, the new 39.6%. Therefore the extra paid on every $1000 of income over $250,000 is 4.6% of $1000, or $46.

      So the difference between Obama's plan and the Bush tax cuts is a dinner and drinks for two at Olive Garden. And then, as stated only on the income above $250,000.

      •  Recommend (0+ / 0-)

        times 1000. Over 250,000.

        the extra paid
        And it can't be repeated too often that this is ADJUSTED gross income in a code system that still offers quite a few deductions.

        Do not be overcome by evil but overcome evil with good. ~ Romans 12:21

        by Mickquinas on Mon Nov 12, 2012 at 04:55:59 PM PST

        [ Parent ]

Subscribe or Donate to support Daily Kos.

  • Recommended (160)
  • Community (83)
  • Baltimore (80)
  • Freddie Gray (59)
  • Bernie Sanders (58)
  • Civil Rights (51)
  • Elections (40)
  • Culture (36)
  • Hillary Clinton (33)
  • Media (33)
  • 2016 (29)
  • Racism (29)
  • Law (29)
  • Education (25)
  • Labor (25)
  • Environment (24)
  • Politics (23)
  • Republicans (23)
  • Barack Obama (21)
  • Police (19)
  • Click here for the mobile view of the site