jesse
@ April 20, 2009


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OC tipper yaworm writes (for, it would seem, the express purpose of enraging me):

Courtesy of the Wall Street Journal Online, the plight of $250,000/yr households finally has a voice.  If nothing else, read the second to last paragraph ("For the Parnells..."). Math!
The paragraph is reproduced for you here:

For the Parnells, their perception of themselves is based on the math. The value of their house is down $60,000. Ms. Parnell says the couple's gross income last year was about $260,000. Taxes, premiums for medical care and deductions for Social Security and their 401(k) contributions cut the gross to about $12,000 per month. The family tithes $1,300 a month at their church. Their mortgage, second mortgage and payment on land they bought is nearly $4,000 a month. Other expenses, including their family car payment, insurance and college funds, as well as basics like food, utilities and donations to charities, leave them with about $1,200 left over each month.
Only $1,200 left over each month after every tax has been paid, 401(k) contribution made, mortgages (plural) paid off, $1,300 given to their church, and all other mandatory expenses, including car payments, college funds, food, utilities, and other basics like donating to charities! Only! ONLY!! DO YOU KNOW WHAT ONLY MEANS YOU DOUCHE!

See... okay, I should calm down. Remember that scene in Pulp Fiction, when they had to shoot Uma Thurman directly in the heart with a shot of adrenaline? Well, if ever I'm in cardiac arrest, and you don't have a needle full of adrenaline handy, just read me that paragraph. I will instantly spring to my feet and punch you in the face.

I could spend the next 10 paragraphs railing against the kind of person who thinks that $1,200 extra per month after meeting every single fathomable expense, including college funds, 401(k) payments, church tithing, and other basics like CHARITABLE GIVING WHICH IS NOT A FUCKING BASIC ....

There I go again. No, here is my actual purpose:

Under Mr. Obama's budget proposal, two of the highest tax brackets would see rates rise, and deductions would be reduced for households earning more than $250,000 annually. [Obama's proposals] call for raising the top federal tax rates to 36% from 33% on households earning $250,000 or above.
The article is another round of hand-wringing by the "good old middle class" that makes more than 98% of people in the country. "Good old middle class" is how one of these top 2% of wage earners described themselves. (PS: if you make more than 98% of people, then, by definition, the only thing you are in the middle of is lying your ass off about being middle class).

So, Parnells, who base their perception of themselves on math, because you are SO GOOD AT MATH, tell me: if Obama raises your taxes from 33% to 36% in the highest bracket, how much of that extra "only $1,200 per month" is it going to cost you?

Last year, the Parnell's made $260,000.  Because the higher tax bracket only applies to that money they make above $250,000 (which I already explained but I don't think the Parnell's were listening),  the extra taxes will apply on only the last $10,000 they made.

At 33%, they paid $3,300. At 36%, they will pay $3,600. Obama's tax increase will cost them $300 per year. That's $25 per month. 

Their "only $1,200 per month" will now ONLY only be "only $1,175 per month". Only.

Instead of writing a 1200-word article on the "mounting costs of living" and the "relativity of prosperity", Gary Fields of the Wall Street Journal, perhaps you could have explained to your interview subjects (and your readers) that Obama's tax increases are going to cost them an extra couple of Hamiltons every month.

People who make just slightly more than $250,000! Listen to me! Obama's tax hikes will have no discernible impact on your wallet, or your quality of life! The millionaires behind newspapers like the Wall Street Journal are trying to use you as sob stories to keep their taxes from being raised, because yours is the closest to populist outrage you can get among the top 2% of wage earners! They are nodding solemnly to your face as you tell them your plight, and they are laughing at you behind your back! By convincing you that you can't live without that extra $25 every month, they are saving themselves millions!

They are making your their monkeys. Don't let them. Do the math.

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