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Originally Posted by WarEagle07
I am wondering the exact same thing!! My husband and I are part of the demographic considered wealthy by Obama's standards but I can tell you that we are a far cry from wealthy. We live in that nasty income bracket where we get hit with the AMT every year so we can't maximize deductions, we don't qualify for financial aid so we pay out of pocket for kids colleges, we don't qualify for stimulus help, and we probably won't qualify for any of the amazing tax credits promised by either candidate. So once we pay our 'fair share' of taxes, pay tuition, pay medical bills, and dental etc there isn't a ton left over for us to be in any way considered wealthy. Yeah, we worked so hard and payed our way through college and worked long hours to get where we are at. It's like being penalized for achieving, in other words why is my hard work not valued as much as a middle class person's hard work by the government? Why is the upper-middle class now considered wealthy? If Obama wants to come see my 'truly wealthy' lifestyle, he can come cut coupons with me and I can drive him around in my car with 110,000 miles on and hoping that it will last another couple of years! On this point I believe that Obama is very much out of touch
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Obama: "no family making less than $250,000 will see their taxes increase." (From his website)
Based on the above policy of Obama's and your own declaration of being wealthy according to Obama, (correct me if im wrong) it would mean that you and your husband make MORE THAN $250,000 yearly.
If a family were to make JUST $250,000 and have their taxes raised (throwing out a hypothetical percentage) that meant 20% (or $50,000) of their yearly income would be given to the government. It would still leave that family with $200,000 a year to live on. That can be broken down to roughly $16,600 a month or $33,000 per member (family of 6) yearly.
Given those rough numbers I have trouble understanding how a family that makes a MINIMUM of $250,000 a year (before taxes) would have trouble living comfortably????
If anyone can explain to how one would struggle to live a comfortable life on a $16,000 a month income, I would greatly appreciate the explanation.