Thanks a ton Obama, really appreciate it.

[Wagner]

We're FU_KED America.......

Obama's rude shock to six-figure earners - Feb. 27, 2009


Love to see how "Joe 6-Pack" would feel if this type of BS was pulled on them, but then again they're probably waiting to see who wins American Idol. Nice job establishing Class Warfare Change boy.

Epic fail. As I wrote my Senator/HR people yesterday, if this were 5 years ago and I was starting my company....I wouldn't. That should tell people something.


Finally, someone from CNN actually wrote an article about this:

Say a family earns $300,000 a year, and pays $50,000 a year in mortgage interest; the family also contributes $5,000 to Boy Scouts, Red Cross and other charities. Under the AMT's top effective tax rate of 35%, they benefit from savings of $19,250 on those deductions.

But under Obama's new plan, the share of that $55,000 that HENRYs can deduct is no longer 35%. It's capped at 28%. Hence, their tax bill rises by almost $4,000. That's a jump in their marginal tax rate, the crucial share of an extra dollar of income they get to keep, from 35% to over 37%.