You see, the tax system doesn’t pit the wealthy against the poor. It taxes people according to their income, not their wealth. If you have $1,000,000 sitting in a bank and you made $7825 in income last year, you still got taxed at a rate of 10 percent per dollar earned from zero to $7825. You’re not taxed for the money you hold onto (your wealth) except for property taxes on real estate. You’re only taxed for what you earn.

This is something neither fiscal liberals nor fiscal conservatives seem to understand and I really don’t get it. Liberals kinda have their heads in the clouds half the time anyway (I can say that, I’m a liberal), but I expected better of conservatives.

Also, speaking as a low-income person and being familiar with some of the class-warfare rhetoric from the Left, let me school you on a few things.

1. I wish all I had to complain about was $101,469.25 in taxes plus 35% of the amount I make over $349,700 in a year. Anyone who can’t make it on $248,230.75 a year after federal taxes, as far as I’m concerned, has problems that leaving the country will not solve for them.

2. While we’re on the subject, it amazes me that so much time is expended using personal finance rhetoric to blame people of little to no means for being in their situations when they have so little wiggle room but when a high earner comes along and whines about that thirty-five percent top marginal rate–35, not 50!–nobody ever stops to ask them why they are having such a tough time when they earn so much. You could buy a nice house in one year with cash on that kind of income. It’s ridiculous. They get a free ride to air their undeserved grievances and just once I’d love to see someone call them on their b.s.

3. The overall grievance that the poor have with the rich is that a certain level of governmental and social services are needed in this country, and the poor are not making enough income to fund it all–and I don’t just mean welfare, I mean roads, the post office, the military, the public health system, and schools. If the poor can’t pay for those things, and the rich only want to pay for them for themselves, what’s left? If you privatize everything you wind up with what’s happened in private schools, where the average test score is higher than in public schools because private schools can kick anyone out for any reason whatsoever. You’d have high average scores too if you gave up on the problem kids every year. That is what almost our entire culture is built upon, from the highest social classes to the low: looking out for number one, seeking maximum profit, valuing efficiency above fairness and throwing people away when they don’t fit the mold. It is trickling down now into parents giving up their teenaged kids for adoption out in Nebraska because parenting is too hard. Where does it end?

Anyone who wants to leave this country over a 35 percent top marginal rate that doesn’t even affect most people’s income in this country, well, don’t let the door hit ya. If what you say is true and social class is very elastic here, anyone can make it if they really try, we’ll replace you in no time anyway. Bye.

So that is why George Bush loves giving tax breaks… to benefit the millionaires and billionaires. Well done, George Bush.

And if the middle class are not happy, just listen to Phil Gramn: don’t be a nation of whiners.

In reality, the store owner above would offer a cost of $80 for coffee now in exchange for $123 coffee in the future, no?

I also agree with Justin’s assessment. So many people miss the fact that while marginal rates are high on high income earners and corporate tax rates are high on profitable businesses, almost nobody pays taxes at these rates. So while many cry foul about the high tax rate for the rich, few rich people are stupid enough to actually pay taxes at those rates. So why not overhaul the system to make it more transparent?

@jon
i don’t mind paying the whole bill, but it sure as hell better be my choice to do so and not a mandate

When we make decisions on the well being of our fellow person and not based on what that person will cost me or provide me, we will have surpassed our base animal instincts.