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This is going to hurt a lot of middle class families in NYC metro area. That's for sure. These families on that 400K line will feel the additional 5-8K a year in taxes. Between federal, state and then the local taxes (at minimum 20K around here) these families are coming out living pay check to pay check. 400K for families is WAY TO LOW to be considered WEALTHY in many areas of the country. They need to up that amount. Or at least use a sliding scale.
This is going to hurt a lot of middle class families in NYC metro area. That's for sure. These families on that 400K line will feel the additional 5-8K a year in taxes. Between federal, state and then the local taxes (at minimum 20K around here) these families are coming out living pay check to pay check. 400K for families is WAY TO LOW to be considered WEALTHY in many areas of the country. They need to up that amount. Or at least use a sliding scale.
Well, not exactly, the increase would apply only on the amount above the 400k. But without all the details it's difficult to discuss, there was also a talk about increasing SALT limits and so on
Well, not exactly, the increase would apply only on the amount above the 400k. But without all the details it's difficult to discuss, there was also a talk about increasing SALT limits and so on
What's the moral justification for forcing other people to give up more income than you do?
Absolutely...upper end of it. Just this morning the news ran a piece on a lifeguard making $400k. After looking into the article, his salary is $209k, the rest is benefits.
Personally, I think the whole lower, middle , upper class thing needs to be revamped. It should be non skilled, low skilled, skilled. Maybe a few more , for business owners, doctors, lawyers and executive types.
Sure, and in some groups Warren Buffet wouldn't be the richest person in the room. So what?
LOL. Calling 400K middle class in order to try and smear Biden. Man they are truly getting desperate to find things they dont like about him. This is hilarious.
This is going to hurt a lot of middle class families in NYC metro area. That's for sure. These families on that 400K line will feel the additional 5-8K a year in taxes. Between federal, state and then the local taxes (at minimum 20K around here) these families are coming out living pay check to pay check. 400K for families is WAY TO LOW to be considered WEALTHY in many areas of the country. They need to up that amount. Or at least use a sliding scale.
People don't realize is that 400K for families. It does not mean their income is 400K. There are a few "non-income" items (benefits etc ) in their paycheck that make up the 400K number.
In San Francisco or New York City you’re poor on that income. You might be below middle class
Give me an effin' break - $400k isn't poor - move your butt to Brooklyn if you can't afford Manhattan on those salaries. You CHOOSE where you live - if you don't make enough $ to live in a HCOL area, then move - especially when it's obvious. But seriously, no one thinks $400k is poor except for the non-working wealthy with trust funds.
This is going to hurt a lot of middle class families in NYC metro area. That's for sure. These families on that 400K line will feel the additional 5-8K a year in taxes. Between federal, state and then the local taxes (at minimum 20K around here) these families are coming out living pay check to pay check. 400K for families is WAY TO LOW to be considered WEALTHY in many areas of the country. They need to up that amount. Or at least use a sliding scale.
5-8% on $400k is....wait for it....an extra 2% and that's at the lowest end so....deal. Why are truly middle class people up in arms about this. Right, they're NOT.
Well, not exactly, the increase would apply only on the amount above the 400k. But without all the details it's difficult to discuss, there was also a talk about increasing SALT limits and so on
If we got SALT back in full that would help many families around me... being able to deduct mortgage interest, state taxes and local taxes again would be well worth the extra 5% increase of federal tax. Hopefully, NY's reps are pushing for this.
What's the moral justification for forcing other people to give up more income than you do?
What now?
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