Richard Greene: Blowing Up America for $2,300
The Huffington Post - over 4 years
We are in danger of going over "The Fiscal Cliff" -- in large part -- because the framing of the Bush tax cut issue and adding "revenue" to our debt crisis has been appalling.
Why is no one breaking this down? And why are we ignoring two hugely relevant points?
Breaking It Down
A small business owner, or anyone, earning $300,000 would, after the expiration of "The Bush Tax Cuts" pay $2,300 more in taxes.
That's 39.6 percent instead of 35 percent times the $50,000 over $250,000. A whopping 0.76 percent of his or her very nice adjusted gross income, after deductions.
We're going to shut down the government over that? And someone making $500,000 in one year would pay only $11,500 more? Someone making $1 million pays $34,500 more? We Should Pay for Our Wars, Not China -- A "War Tax"
Now $34,500 or $11,500 or even $2,300 is not an insignificant amount of money, but over 6,600 dead and over 50,000 injured for life and anywhere from $1.39 trillion to over $3 trillio
The Huffington Post article