Tuesday, September 25, 2012
when you talk about $250K
I guess that when some work folks make a bit more money than others, it causes envy. But when it comes to super rich, people admire them.
When people talk about top 1%, they also include people who make over 250K. Those, not everyone, who make a bit above that borderline, are nothing to do with superrich. Those are working citizens usually dual earners or living in high cost living area. In order to make that much money, those people also have to be hard working...unlike spoiled brats whose parents can phone call to get temporary jobs in prestigious firms for the heck of experiences for instance. By the way, those spoiled brat taken jobs directly kill the opportunities of serious and talented students from no connection family.
Those spoiled brats usually work under direct supervision of middle managers like other entry positions. But usually those managers are pressured to give a good grade on their performance. I have seen it.
While those spoiled brats' parents go to public and speak for middle class and raising tax for top 1%. That hit those folks who have to work for the entire life to pay their bills. Super rich are not working to live. The majority of income comes from other than earned income. One is investment. Even if we increase the investment income tax, they will get around by establishing non-taxable entity or some kind of expense account they create. It will hit again those working folks who finally started putting aside some of their income for their own retirement other than tax protected retirement fund. Those folks without pension have to put aside the significant amount of money for their own retirement after tax.
You cannot do that seriously. Those people are not even driving luxury cars you see on street. By the way, those luxury cars are owned by many under $250K, too.
When you focus so much on the top% wage earners, you are killing those people's seoul. Many folks are coming from modest income. They worked hard without family connection.
You got to look at those superrich whether what you are trying to do really taxing really rich, those who do not have to work for life. Those people don't need another marble bath in their castle. Those yacht should pay for basic medical care of citizens who cannot afford. Without taking those obviously unnecessary items of life, you cannot tax those folks who are just making $250K.
By the way, there are many people who make less than the cut but living mortgage free because their parents can afford to do so. OR those folks whose parents are lucky enough to pay for college have better life with less hours of work.
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