How many people know that extending the "middle class tax cuts" extends tax cuts for everyone?

jpgray

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Fri Dec-03-10 11:47 AM
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How many people know that extending the "middle class tax cuts" extends tax cuts for everyone?

The blue is the savings for each group by a "middle class tax cut" extension alone, whereas the red is the savings from total extension. Are people aware the wealthy stand to retain a big chunk of blue even if tax cuts for income over a quarter million dollars expire, do you think?

(image from Mother Jones and Kevin Drum)

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zigzagzed

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Fri Dec-03-10 11:52 AM
Response to Original message

1. They dropped the ball

The democrats should have done a better job explaining what a marginal income tax means.

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pinto

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Fri Dec-03-10 11:52 AM
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2. No, I don't think media has really pointed that out - it's framed as an

all or nothing without noting that all income up to $250,000 - or whatever cut off point - would keep a tax cut.

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Angry Dragon

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Fri Dec-03-10 12:13 PM
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3. I know

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JVS

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Fri Dec-03-10 12:14 PM
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4. I do, but that's because I understand marginal income tax brackets.

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bigtree

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Fri Dec-03-10 12:17 PM
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5. right. Everyone would get a tax break on income up to $250,000

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zipplewrath

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Fri Dec-03-10 12:17 PM
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6. This is hard for many to understand

They don't understand how the various tax "rates" are calculated, and the standard 1040 tends to hide the reality of what is going on. There are also features intended to moderate some of this effect, things such as the guaranteed minimum tax and such.

It is absolutely friggin' amazing to me that we are having this discussion about the rich folks at all. But the fact that we are seems to suggest that no one is much interested in the details.

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Fuzz

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Fri Dec-03-10 12:19 PM
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7. If they raise the rates I'm going to quit working because it's no longer worth it.

I'd just be handing over my money to lazy government workers and welfare people who drive Cadillacs while using food stamps and having a baby every year.

:sarcasm:

(channeled a freeper)

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dkf

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Fri Dec-03-10 12:19 PM
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8. How many people know the "middle class tax cuts" cost $3.2 trillion, eclipsing the $700 billion cut

For the rich?

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