I’ll never make anywhere near the income to be “targeted” by the Obama Administration for income tax surcharges. You might say that I should not care about higher taxes on the rich. But somehow, being an employee at an institution that depends on alumni donations and a fully loaded price of $50+ thousand per customer makes me more than a bit queasy about the potential hit to our family’s well being in the near- to mid-future. Remember the luxury tax on yachts?
Little Voices in My Head
Jul 17th, 2009 by wintercow20
I guess you mean a fully-loaded rate of $50,000 per year, not $50,000 for a degree.
The people who really are targeted are medical doctors, holders of capital assets not exempt by the government, entrepreneurs not in the windmill or legal moonshine business, and lawyers who specialize in wills and estates. They will get screwed not through income taxes, but by other means. The capital asset owners who might be forced to liquidate their businesses to pay other fees, taxes, etc. might actually become million-dollar-a-year folks for a year, and if they live in New York or New Jersey, might have to fork over 50-70% — who knows?
I wish we would all stop fighting over whose share is whose in the garbage pail, and try to put unchewed food on the table.
Fact is, since 1982 tax rates have been lower for all of us, and until recently we have prospered. That has worked, and happens to also respect freedom.
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