"What makes you think these numbers have any base in reality? Come on, really??"
Clo, I ALREADY pay MORE than a 50% marginal tax rate. That includes state and local taxes and various business taxes but the Wall Street Journal includes those. More than half of everything I earn is ALREADY taken and squandered by the politicians and the public serpents.
So, although I haven't verified the WSJ calculations I can tell you -- personally -- that conjecture of a 70% marginal rate on ordinary income if taxes get raised as Obama keeps suggesting is extremely credible. We should also know that there is no upper limit on how much tax will satisfy politicians. "They want it all" as Carlin used to say.
How much is YOUR marginal tax rate, by the way? My guess is close to zero; those who earn less than $50K a year in this country generally don't pay any taxes except sales tax. So you don't really know very much about the reality of current top ordinary income taxes, do you?
Where you AWARE when Obama was giving those speeches advocating higher tax rates on the upper middle class while, implicitly, proposing that his SPONSORS tax rates be kept at 15% or lower, that you were being deliberately hoodwinked?
How does it feel to know that your man deliberately deceived you?
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