“It’s a lot, lot more than 4%, and it’s not “just on millionaires. In fact, I read elsewhere today that the impact on singles kicks in at $200K. By the time they sit down with the real numbers they want, I wouldn’t be surprised if they decide that anyone making over 100K is “rich.””
Someone with 100K a year, before taxes, lives VERY comfortably, even with 4 kids and a wife to support, who doesn’t work. Someone with 200K, yes, is RICH damnit.
I’ve worked for 15~25K a year, paid 25% in taxes, and let me tell you that it’s not the 6K in taxes from my 25K that hurt, it’s the fact that I only had 19K to live with. If I made 200K a year and paid 50% of it, I could live in a palace with 100K in my pockets a year.
At 25K a year, saving money is almost impossible unless you live in a dismall apartment in the middle of nowhere (the only place its cheap), and work from home or in that small town (the commuting from ‘middle of nowhere’ to some city would make the rent deal worthless). You try buying a house with a single income of 25K a year. Even a small one that costs 100K.
