in taxes for the portion of income under that threshold

Life is just so hard for them.

to take away Union benefits since they don't have them instead of fighting so EVERYONE gets bennies.

Instead of attacking those who are WORKING long hours weekly and mostly liberal types, why not have the goal where everyone below the lawyers and doctors get higher salaries?

They need pay their fair share. This country has been good to them. Good enough that they could get where they are. They didn't do it alone!
You sound like a republican against economic patriotism.

If I made $7,700 a month I'd consider myself rich.

I can't speak for lawyers, but the life of MDs is, for most, pretty brutal.

most of the ones making under $400,000 are the young manhattan liberal types.
it's the ones making over $4,000,000 who are the sociopathic republicans.

I know the starting salary for a junior associate at one a big law firm is 160K. A lot of money to be sure, but those jobs normally go to people at top 20 schools and they are usually in at least 200k debt. I don't know how much doctors make starting out, but I doubt it's much more than that. I would like 250K, but I can live with 400K. Honestly, though I don't have too much sympathy for anyone making that much.

Much less.

I never knew that.

And with liability insurance.

Many younger dcs are salaried at HMOs as well.

I would've topped out at $250K in my specialty. Not worth missing my entire life for.

I'm fortunate to not have the debt (scholarships, fellowships, etc.). At least half of MDs would get out if they didn't have the debt keeping them in. Sad truth. For most, the MD was a horrible financial decision. But with private med school tuition at 45K/yr, you're locked in before you get a chance to realize your mistake.

I'm selling out and going into med-business, but plan to get into public service after I pad my resume a bit more. It is what it is.

just placed a Reservoir Engineer w/ MS, MBA for 165K plus 30% bonus ( net comp ~ 190K) - her husband works in finance (MBA) making ~ 120K. Their original loans are probably in the range of 300K. They have 2 kids. Have a small house.

They are from a small town in Cameroon and they have worked their asses off.

I don't get why SINGLE is 400K but married is 450K. IMO single should be 250 or less, even.

We're not rich by any means, because $200K in the DC Metro area is about average. If we lived pretty much anywhere else, we'd have a huge house with a lot of land. Here, we have an average house (2200 sq. ft.) in the 'burbs, in a quiet, mixed ethnicity neighborhood.

I'd be happy to pay more taxes if it would help others. I'm a Fed, and my husband is a contractor, so we were both worried about the Fiscal Cliff and being furloughed, etc. I'm glad that they have a deal. It's not the best we could have, but at least it's something.

And getting the unemployment insurance extension and EITC extension are both good too.

trickle down

a lot more...probably 500K.

Reminder: EVERYONE is excluded from the tax increase up to the treshold amount. So a threshold of 250K (AGI) is still a tax break for EVERYONE. The tax difference between thresholds 250K and 400K is 6K. 6K is the amount the gop says will keep the top 2% from 'creating jobs' and investing. 6K is the reason the gop is going to the mat and holding the middle class, the unemployed, the wage earners hostage. Dems MUST make them pay politically for this after the deal is made...point out what the gop cares about most....and it's not the deficit, not workers, not our grandchildren, not democracy.

This is not a threshold based on economics, logic, or reason...just a bone to throw to gop who relies on money to win elections and maintain economic inequality. Makes me angry....

cited. And geography plays a part in this as well.

These people are working professionals, sometimes working 60 hours a week, with debt to repay and getting a late start on savings. I think the higher tax burden should be on the corporate executives with the monstrously high salaries.

I'm an MD, who decided not to practice because I didn't want to miss my son growing up. Honestly, 60hrs/wk is about the least I know of any MDs working. In my field, I would've topped out around $250K. The money wasn't worth it.

For me. My husband isn't making the $250k, but if he were required to put in more hours than he does already, at some point he'd say "screw it".

And a lot of people don't really get how physically demanding careers in healthcare are. Most people are on their feet most of the day, for starters.

from what i see in my own little word. there is no way i would work the hours they do. i do not know how much they make, having to work those hours.... but, i dont begrudge them this.

specialist world is a whole other story.

we have to understand there is a difference between the groups, financially and time spent.

it's not great...

but it is the process of negotiation.

and dividends are going from 15% to 20%.
Not much of a change

If some retirees are counting on capital gains income to live on, keep the rate low on the first $25k/person, then raise the rate on higher levels, make it progressive like for salaries/wages.

I'm OK with it.

I thought of congressmen, their woves and kids.

And P.S., I don't think very many beginning doctors and lawyers make 400K in taxable income.

Of course, we should ALL be making significantly more than we are; then 400K might not seem so high compared to the rest of us.

This is what we get for not having the darn house. 2010 hurt us bad.

No benefits of course.

So really, I don't want to hear about the struggles of people making half a mil a year, or even the tragedy of only earning 250K. If you earn that much... congratulations on your double blessing -- you are not only fabulously well off, you have a both political parties working feverishly to protect your wealth. So enjoy it.

But please, PLEASE, don't insult the vast majority of American's who cannot even fathom the security and luxury that kind of wealth can provide by claiming that you are middle class regular folks. You're not. You're not even close. And if this makes you feel bad, here's a fun game you can play to feel better about your struggle. It's all the rage in the best circles. Do this:

Go to your closest Walmart, count every employee you see, and then remember that you alone earn as much money as everyone you have counted combined. Those poor serfs you counted will work till they die; they have a boss that fucks with them just to keep them in their proper Walmart place. They have no benefits, no sick days, no days off at all. They of course have no healthcare -- if they get a cavity or cancer they can turn to Jesus on their regimented break and then get back to work. And not one of them can afford to exist -- they cannot eat or pay their rent or utilities -- without the social services we are cutting to ensure no one in the upper crust earns a penny less. And if the "Count the peasants" game isn't fun enough try this twist. Walk around the store dropping ten dollar bills just to watch them scramble -- they have to work two hours to take home that much, so really you are doing them a favor!

It's about the cheapest fun a struggling "middle class" Lord or Lady can have. And now, more than ever, you can afford it.

actually isn't that common.

median student loan debt for undergrads was $16K in 2003, for grad students $23K. for both combined, $24K.

in 2005, $450K was the highest medical school debt reported in one survey, but the average debt was $87K.

Until you have walked a mile in our thousand dollar Coach shoes, don't judge.

Do you think private academy for the children comes cheap? How about personal drivers, personal shoppers, an antique scout, groundskeepers, housekeepers, therapists, and plastic surgeons. They are bleeding us dry! It's not like we are wealthy, we live in an average run of the mill 3500 square foot house -- it's practically a shack. The pool is tiny! You would think with a pool that small the pool boy would give us a discount, but no. No one gives the middle class folks like us a break.

Just the other day, my son Chadwich made the mistake of strolling un-escorted outside the wall surrounding our humble community, and he was set upon by some scary sounding ruffians who had the audacity to mock the very jaunty bowler he was wearing at the time. Now he will have to be in therapy, so we have that bill as well. Plus his bowler fell off in his headlong flight and he was inconsolable until we promised to have a new one flown in direct from London.

So please, until you have experienced the nightmare of "middle class" living, do not judge.

/sarcasm

From the AMA.

http://www.ama-assn.org/amednews/2012/08/27/prsb0827.htm

I don't believe that is taking undergraduate debt into account.

And most MDs getting into the subspecialties that could get you that $400K paycheck would be attending private medical schools. My (private) medical school tuition was $45K/yr, and that didn't include any living expenses.

grads have predmedical education debt, and the median is $20K.

which means median for both types (for those who have both types) is $190K.

https://docs.google.com/viewer?a=v&q=cache:6_UZFvMbpaIJ:https://www.aamc.org/download/152968/data/debtfactcard.pdf+median+medical+school+debt&hl=en&gl=us&pid=bl&srcid=ADGEESh_BiBxQIwThmNduUUFvfNG4Y6AJn9jF_uaeiAdR10R6xQN5qnddqzS7gU7h1OxJNZeeRPBp_yFFrSfqbYauHADDdOHxYyXKMaNXCsVfU2BwpLD9GRr-EopWByU0BOMyZiIeR6b&sig=AHIEtbRjID2m_WsNiBw4Bp8gk880TLYwPg

Someone making 400k a year is going to have $200-300k take home pay. So they could pay off their entire hypothetical $300k student loan in 2 years, maybe 3, and still have well over what most of us survive on for living expenses during that time. Let's say they delay their home, family, and 401k by two years, then after that they can pocket the extra $200-300 thousand a year, or a million dollars every 4 or 5 years.

Am I supposed to believe that's not living in luxury? Am I supposed to worry about their ability to save for retirement?

Also, for most of the professional class to make this money, would require two salaries....and two student loan debts to pay off.

And what will you say to these people when, after delaying their family again, the only way they can get pregnant is IVF at $20K a shot? Will you say they should have started their family earlier?

I'm not saying that doctors don't get paid, they do. I'm asking you to think about the personal sacrifices they make. Most MDs will continue to work 60+ hours weekly well into their careers. On an hourly basis, that puts them at $250K yearly for an average 40 hour week. And, realistically, that $400K payout would require 80hrs/wk (including call) for most. Also, for most, being is a physician is an emotionally and physically exhausting job.

I think we can find better villains in this economy.

They are still financially set for life.

I'm not arguing about their quality of life or working conditions or demonizing doctors or saying they are bad people. I'm just saying from a FINANCIAL perspective, it's absurd to paint them as somehow unable to pay taxes because they won't be able to retire or pay their bills without still being filthy rich.

As for delaying a family for 2-3 years because they are paying off their student loans, again this is absurd. Even with insurance, they have plenty of salary left over to raise a family - far more than the average American. Most people who have student loans and want to start a family don't have the luxury of enough surplus income to pay off their loans in such a short amount of time.