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by EPWN3D
47 days ago
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I can't take anyone seriously who equates "six figure income" with "upper-middle class". That was true in the 80s. But the median household income in the US is about $80,000/yr. That extra $20,000 doesn't push you into upper-middle class. If there's a trap for the upper-middle class, it's for the W2 earners. The federal tax code essentially disqualifies high-income W2 earners from virtually every deduction. Both parties wind up soaking these taxpayers because they - make a lot of money, - don't own a business, and - don't have an organization like the Chamber of Commerce to lobby on their behalf When Republicans get into power, these people are likely to vote Democratic and are therefore okay to stick with the bill after cutting taxes for dentists, lawyers, and corporations. When Democrats are in power, these people are (as ever) not "paying their fair share", so they need their taxes hiked to pay for free stuff for people who don't vote for Democrats. And then they'll also be disqualified from taking advantage of those new benefits/entitlements. |
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