News, Obama may delay tax-cut rollback for wealthy.

[ottomobeale]

>Gross income = $249,000
Tax rate = 32%
Tax = $79,680
Take home = $169,320

Gross income = $250,000
Tax rate = 35%
Tax = $87,500
Take home = 162,500<

Uh. Poor example. 1000 dollars of income does not retroactively tax all previous income at the higher rate.

[foma]

Originally Posted by ottomobeale

>Gross income = $249,000
Tax rate = 32%
Tax = $79,680
Take home = $169,320

Gross income = $250,000
Tax rate = 35%
Tax = $87,500
Take home = 162,500<

Uh. Poor example. 1000 dollars of income does not retroactively tax all previous income at the higher rate.

That is true, I did not factor in taxes are progressive.

[70Ford]

Originally Posted by ViewFromThePeak

Do you always see black helicopters, or only on Mondays?

Many economists have forecasted this crisis and the problems with raising taxes for the wealthy. Nothing in that is news. The information has been available to those who want to read it, and not part of any gov't conspiracy as much as you'd like to hope as an alibi for Obama's ignorance. Your messiah just chose not to read the information or believe it until his yes men schooled him.

So the yes men told him no? Sounds like they are really bad at being yes men, to me.