Can someone define 'the rich'?

[exUte]

It appears the Democratic is hell bent on taxing the rich. And I've heard the rich being defined as those making over $250K, $100K and $85K. What does Saint Obama consider rich and does that mean the rest of the citizenry won't pay more taxes?

[il Padrino Ute]

The definition for rich is whatever those who want to increase expensive social programs says it is.

[ChinoCoug]

Originally Posted by exUte

It appears the Democratic is hell bent on taxing the rich. And I've heard the rich being defined as those making over $250K, $100K and $85K. What does Saint Obama consider rich and does that mean the rest of the citizenry won't pay more taxes?

$250K+ and yes.

[exUte]

Originally Posted by il Padrino Ute

The definition for rich is whatever those who want to increase expensive social programs says it is.

will be lowered until EVERYONE's taxes go up.........

[exUte]

Originally Posted by ChinoCoug

$250K+ and yes.

$250K, won't see an increase in taxes? Wow. Have you ever seen a comparison of taxes under Clinton vs. Bush (after Bush's tax reduction). After all, the key issue is whether to eliminate Bush's tax cuts in 2010.

I'll post the comparison later. Perhaps then you will see who your party deems rich.

[ChinoCoug]

Originally Posted by exUte

$250K, won't see an increase in taxes? Wow. Have you ever seen a comparison of taxes under Clinton vs. Bush (after Bush's tax reduction). After all, the key issue is whether to eliminate Bush's tax cuts in 2010.

I'll post the comparison later. Perhaps then you will see who your party deems rich.

Clinton did raise taxes on the middle class. His economics team believed that deficit reduction was necessary to hold interest rates down, so he had to hold of on the middle class tax cut until the bills were paid. Obama's team doesn't believe that deficits affect the interest rate that much, and hence isn't as focused on deficit reduction.

[exUte]

Originally Posted by ChinoCoug

Clinton did raise taxes on the middle class. His economics team believed that deficit reduction was necessary to hold interest rates down, so he had to hold of on the middle class tax cut until the bills were paid. Obama's team doesn't believe that deficits affect the interest rate that much, and hence isn't as focused on deficit reduction.

Not sure which side I come down on. But if Obama's team is wrong, watch out.