It has been reported that House Speaker
Unfortunately, that threshold, as well as President
If U.S. tax policy is supposed to be progressive, a simple analysis of the latest available (2009)
The solution to this lack of progressiveness is to implement what
The $250,000 threshold proposed by Mr. Obama is even more troubling since the Clinton era maximum tax rate was levied on joint incomes above $288,000 which if adjusted for a cumulative inflation rate (from 2001 to the present) of over 32 percent, is approximately $380,000 (which means an income of $250,000 now is only worth about $190,000 in 2001 dollars). So it apparent that Mr. Obama considers the rich to be at an even lower income level than President Bill Clinton did.
The real solution to our tax-related economic problems is to abandon campaign rhetoric and implement meaningful changes to the tax code that are easily apparent to even an arm chair economist.
Michael Vance Ernest Sr.,