“The argument against Obama’s plan erodes.”
Why? Well, because many of the more fortunate families among us have no reason to be concerned about that evil Marxist Kenyan plan to allow the Bush tax cuts to expire. Why?
A close look at the president’s plan shows that a large majority of families making up to $300,000 – as well as hundreds of thousands of families with even larger incomes – would not pay taxes at a higher marginal rate. [...]
The government does not tax contributions to retirement plans, interest payments on mortgages or charitable donations, among other things. As a result, two families with the same incomes will most likely have different taxable incomes.
Check out that chart. Those making between $350,000 and $400,000 would only pay an additional $2,500 or so, and those making $400-500,000, only about $4,000. I’m guessing they can afford that.