Post by Adriana Velez
Are you getting that feeling like your little raft is about to plunge over the edge of Niagara Falls into the mist and rocks below? The "fiscal cliff" talks began today! One of the biggest points of debate is raising taxes. Obama wants to freeze taxes for those of us who make under $250,000 and allow the Bush tax cuts to expire as planned for people making over $250,000. Republicans don't want to increase tax rates. Instead, they want to raise revenue by limiting deductions that benefit the wealthy. Just for a little context, people who gross $100,000 a year or less are taxed at 35 percent. If the Bush tax cuts expire, people who gross over $250,000 a year will return to a 39.6 percent tax rate (from 35 percent). The median household income for Americans is around $50,000. How do Americans feel about a tax rate increase for relatively wealthy people? Let's take a look at both sides of the argument.Image may be NSFW.
Clik here to view.
Are you getting that feeling like your little raft is about to plunge over the edge of Niagara Falls into the mist and rocks below? The "fiscal cliff" talks began today! One of the biggest points of debate is raising taxes. Obama wants to freeze taxes for those of us who make under $250,000 and allow the Bush tax cuts to expire as planned for people making over $250,000. Republicans don't want to increase tax rates. Instead, they want to raise revenue by limiting deductions that benefit the wealthy. Just for a little context, people who gross $100,000 a year or less are taxed at 35 percent. If the Bush tax cuts expire, people who gross over $250,000 a year will return to a 39.6 percent tax rate (from 35 percent). The median household income for Americans is around $50,000. How do Americans feel about a tax rate increase for relatively wealthy people? Let's take a look at both sides of the argument.Image may be NSFW.
Clik here to view.
