DougM

The Obama Plan: We Can't Entitle Our Way Out of Paying Taxes

I don't know about you, but the current combination of low interest rates, high inflation, and a marginal tax rate of 45% (including my state's income tax), I have a pretty strong disincentive to save - every dollar of consumption that I defer today buys me less consumption a year from now, after taxes have eaten up most of my meager interest income. The fact that I'm well-off doesn't change the math - the fact is, it's people like me who have the money to save, not those living paycheck to paycheck, or blowing their disposable income on big SUVs and TVs. At least spare those of us paying all the bills a break and stop insulting us by saying we're not paying our "fair share".