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Also... I love how they keep arbitrarily redefining who is "rich." It used to be if 3 million was your income, that got lowered to two, and now Joe says it's 500K!
Almost like somebody told them that even if they seized all income from millionaires it still wouldn't make a dent in the budget deficit! So they're going after all the half-millionaires now too!
Actually they've been talking about anyone making over $400,000. That sounds like a lot of money and it is but if you're married and your spouse is also a professional, especially in NY, Boston or California, you'll hit the $400,000 mark and that's really upper middle class. Married people usually file their taxes jointly so that $400,000 isn't out of reach.
In addition, say you've invested your money wisely and have a couple of rental properties to go with your income, you'll hit that $400,000 if/when you file jointly. Yimmy can probably confirm.
What's insane is that when I was a kid and a politician said he was going to raise your taxes, that was a death blow (see Mondale, Walter). Now it's a talking point to attract voters. My, how times have changed.