1/19/15 Some people erroneously claim that President Obamas latest suggested changes to the Federal Tax Regulations are merely a political stunt designed to redistribute wealth from hard-working, successful, productive Americans to people who contribute little and demand to be given a larger part of what others have justly earned through their own individual efforts. In reality, the proposed changes would only begin to address and partly rebalance the wealth gap that has been growing since the 1970s and is the result of the powerful influence the richest Americans have on the laws drafted by congress. Examine the posted data, determine just how your own Family Income segment (presented as Quintiles, 20% slices) has been affected, and be aware that, in spite of the Fear Tactic of declaring that raising taxes on the super-rich will hurt middle-class jobs and families, the proposed new regulations will increase the taxes only on that part of household income that is more than $500,000 per year. Having to pay taxes on only the part of annual family income thats more than a half-million dollars? Thats a tax problem I would love to have!
Posted on: Mon, 19 Jan 2015 21:27:38 +0000