Tax THIS!

Just a reminder, taxes are already going up on “the rich” in just three weeks:

Starting Jan. 1, investment income for individuals earning over $200,000 and households earning over $250,000 will be subject to a new 3.8 percent tax. Further, regular income above those thresholds will be hit with a .9 percent Medicare surtax. Should the Bush tax rates expire for those workers, those increases will be compounded.

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What Obama wants is additional tax increases on top of the ones he and the Democrats imposed two years ago.

UPDATE: I almost forgot why I put “the rich” in quotes. And that is, you’re now “in the top 2% of earners” if you’re in the top 20% of earners. The NYT has that story for you:

Affluent people are much more likely than low-income people to have health insurance, and now they will, in effect, help pay for coverage for many lower-income families. Among the most affluent fifth of households, those affected will see tax increases averaging $6,000 next year, economists estimate. [Emphasis added.]

That top fifth includes households making $75k or so a year. But, yes, please let’s do keep talking about “millionaires and billionaires.”

It’s Obama’s party. We’re just paying for it.

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