Biotech Values

[rfj1862]

Leaving my personal finances out of this, Barack's "proposal" is below. Clinton has said she'd raise the top rate to 39%. The top rate is currently imposed at incomes of >$336,550. Since I live in NYC, that would mean that 50% of every dollar I make over $336,500 goes to the government. Not including property taxes, sales taxes, etc, etc, etc.

Aside from that, raising taxes on dividends means that I have to work substantially longer before achieving a level of income that allows me to move forward with my personal plans. That's the personal disaster.

I don't think "leveling the playing field" should come at my expense. I went to school and made a crappy $16,000/year stipend (in NYC) until I was 28 and worked 90-hour weeks for years after to get where I am.

Enough said for me on this topic. It makes me sick.

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WASHINGTON - Democratic presidential candidate Barack Obama on Tuesday proposed a tax cut of more than $80 billion for low- and middle-income workers and retirees funded by higher taxes on investors and some businesses.

Like other major Democratic candidates, the Illinois senator already has said he would eliminate the portion of the Bush administration tax cuts that benefits families earning more than $250,000 per year, so his tax plan would amount to a significant shift of the tax burden away from low- and middle-income Americans toward the more affluent. One would assume that because he specifies "families"--probably married filing jointly--this would kick in around $125k for individuals.

...Investment income from capital gains and corporate dividends is currently taxed at a lower rate than workers' income from wages. The maximum tax rate for capital gains and dividends, currently set at 15 percent, could rise to "as high as" 28 percent, although the campaign has not yet determined the exact rate they would propose, according to the campaign adviser who briefed reporters.

http://www.chicagotribune.com/news/nationworld/chi-070918obama,1,7664350.story