re: #146 Big Steve

First a disclaimer…I do make more than $250k per year. Having said that, and fully realizing that this puts me in the top 2% of family incomes in the US…I don’t feel wealthy. I do admit that I don’t have to live check to check and my only vice is buying woodworking tools. But I also feel I work very hard. There are some that say I am lucky but I would like to know where they were when I was sweating my ass off learning how to integrate in spherical coordinates for heat and mass transfer classes for my engineering degree. The Bush tax cuts save me $4500 per year and I can tell you for certain I would rather have that money than give it back to the US government. So just saying, if the cut off to lose the tax cuts is $250K so be it, but I will fight you if you think that is rich.

between me and my wife we also make over $250k/yr. however, the rollback of the bush tax cuts would only be on marginal income, that is, it would only be a rollback on tax cuts for the amount over $250k/yr, not taxes for the amount under that. based on that, i calculate that for us, a rollback of the bush tax cuts would only cost us less than $300/yr

i agree with you that $250k/yr is not really “rich”, but on the other hand i’m not sure how much you would have to make over $250k/yr to have it cost you 4.5 grand a year in extra taxes on the amount over $250k/yr if the bush tax cuts are sunsetted - that is, the amount you make over $250k must be considerably more than for me and my wife. ???