It’s about time
Waaaaahhhhhh, he’s going to raise taxes….it’s unfair to us….waaaahhhhhh:
Under existing law, the tax benefit of itemizing deductions rises with a taxpayer’s marginal tax bracket (the bracket that applies to the last dollar of income). For example, $10,000 in itemized deductions reduces tax liability by $3,500 for someone in the 35 percent bracket.
Mr. Obama would allow a saving of only $2,800 — as if the person were in the 28 percent bracket.
The White House says it is unfair for high-income people to get a bigger tax break than middle-income people for claiming the same deductions or making the same charitable contributions.
but, but, but we are taxed higher
I suppose that the politics of envy is alive and unwell in progressive circles.
Perhaps some never read read Animal Farm.
Politics of envy? There are wealthy progressives. In fact, Obama did very well with the rich, progressive and smart group in November.
yes, I’m envious of people that make more money than me and get tax breaks that exceed mine for the exact same deductions. Go figure, I’m a flat out crazy-person for wanting equality
call me a progressive or shorter version an American
So, how much do you give to charity?
Red herring, Sharon. Unless… you’re one of those people who only give to charity for the tax write off. That’s not our motivation, but if it’s your Republican take, then I guess those pro-life and abstinence only groups are in big trouble. I’m crying here.
Sharon,
I don’t understand your question. Are you saying that because someone makes more money they should get more in deductions for the same exact deduction?