Krugman: Obama Could 'Go Down In History As The Wimp Who Threw It All Away'

I Love America said:
I do love liberals so. For months during the election, all we heard was how taxes had to go up on the richest 1% represented by those making $250,000 and more. Now that the bill has been signed, these same folks are saying "Well, $250,000 isn't really rich" and "It all depends on where you live"

Hilarious. Sad, but hilarious. Party of principle 24/7 with liberals
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1) I am not a liberal by any stretch of the imagination
2) Dr. Suess boy is hardly a liberal either, more liberal than either of us, but he is more on the moderate side of things.
 
Thing1 said:
My only point is that it isn't rich - and it isn't. Like I said, from a certain perspective it probably seems like a ton of money, but that doesn't mean it's rich. Comfortable? Yes.
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The "paycheck to paycheck" thing kinda rankles. If you're living paycheck to paycheck anywhere in this country with a $250,000 income, you are living a very very high consumption lifestyle. And that's fine. But lets not pretend that it isn't a lot of money to earn on a comparative basis.

Whether it is "rich" or not is subjective question and one that doesn't interest me.
 
Dungheap said:
The "paycheck to paycheck" thing kinda rankles. If you're living paycheck to paycheck anywhere in this country with a $250,000 income, you are living a very very high consumption lifestyle. And that's fine. But lets not pretend that it isn't a lot of money to earn on a comparative basis.

Whether it is "rich" or not is subjective question and one that doesn't interest me.
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I agree on all accounts this is what I have been trying to say exactly.
 
Thing1 said:
$250K is definitely not rich in my area. Maybe for a single person it is very well off, but for a family income, it's upper middle class, which is very different from wealthy.

It sounds like an awful lot from some perspectives, but a lot of people at that level - who have kids, who are saving for college, etc. - can live a fairly modest existence and still basically be paycheck to paycheck.
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Anyone living paycheck to paycheck on 250K has much bigger issues than tax rates.

A lower tax rate won't save them.
 
I'll allot that "paycheck to paycheck" was an unfortunate choice of words. But I do think that people at that income level - in some areas of the country - just don't live as large as many would think that income level would allow. We're not talking mansions & limo's & summers in the South of France here.
 
as i understand it, the 250K amount is for single filers, not joint filers where the amount is 400K....

i thought that it was changed to this...
 
Obama is the biggest wimp and liar in the history of American presidents .. and his democratic supporters are just as much a fraud as he is.

Democrats are now in love with the Bush tax cuts.

Democrats no longer have a problem with the Patriot Act, or the much worse NDAA, which Obama just signed again.

Gitmo still open .. no problem for democrats.

Kill American citizens without trial .. no problem.

Indefinate detentions .. NOW .. no problem.

Cut Social Security and Medicare .. democrats are going to love it.

Incredible
 
blackascoal said:
Obama is the biggest wimp and liar in the history of American presidents .. and his democratic supporters are just as much a fraud as he is.

Democrats are now in love with the Bush tax cuts.

Democrats no longer have a problem with the Patriot Act, or the much worse NDAA, which Obama just signed again.

Gitmo still open .. no problem for democrats.

Kill American citizens without trial .. no problem.

Indefinate detentions .. NOW .. no problem.

Cut Social Security and Medicare .. democrats are going to love it.

Incredible
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Welcome to the real world.
 
Superfreak said:
Housing was mentioned because it is fairly easy to compare square footage prices... it is the overall cost of living that is the difference. Regardless, no one is saying it is not a lot of money or that it is more than most earn. What is being said is that it doesn't necessarily make you rich.
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Evidently, nobody here has kids applying for college these days.
 
Aoxomoxoa said:
If you are a good doctor you ought to be able to treat the patient as well as recognise the symptoms.
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I'm no doctor .. but I'm a pretty good political analyst.

Those who bought into "hope and change" were deluded by a serious case of "Bush did it" and they reached for an over-the-counter remedy without ever reading the label.

I read the label.
 
Sativa said:
as i understand it, the 250K amount is for single filers, not joint filers where the amount is 400K....

i thought that it was changed to this...
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I believe it was 200/250, and now it's 400/450


People who live in areas where $250k is a king's ransom, simply don't have the access to that kind of salary. Those who live on the coasts will see that income if they're lucky, but the cost of living is much higher.

Fed/State/Fica taxation on your $250k is easily $80-$100k. Property taxes in the Northeast, or Cal. will easily run $25,000yr.. Rent in cities is $2500/$5000 month. Mortgages will easily be $4000/month especially for a home that was purchased during the boom.


If you don't get your health insurance from an employer, add that cost. Nobody said $250k was poor. It isn't wealthy in all parts of the country.


State colleges are running $25k/year at a minimum.
 
Althea said:
Evidently, nobody here has kids applying for college these days.
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I do not personally, but many of my clients do. I know the costs are increasing at an insane rate. It is yet another problem that must be addressed. I was simply pointing to an example of why $250k may not be 'rich' in certain parts of the country.
 
blackascoal said:
I'm no doctor .. but I'm a pretty good political analyst.

Those who bought into "hope and change" were deluded by a serious case of "Bush did it" and they reached for an over-the-counter remedy without ever reading the label.

I read the label.
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You didn't vote for Obama in '08?
 
Superfreak said:
I do not personally, but many of my clients do. I know the costs are increasing at an insane rate. It is yet another problem that must be addressed. I was simply pointing to an example of why $250k may not be 'rich' in certain parts of the country.
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How should skyrocketing tuition be addressed?
 
Althea said:
I believe it was 200/250, and now it's 400/450


People who live in areas where $250k is a king's ransom, simply don't have the access to that kind of salary. Those who live on the coasts will see that income if they're lucky, but the cost of living is much higher.

Fed/State/Fica taxation on your $250k is easily $80-$100k. Property taxes in the Northeast, or Cal. will easily run $25,000yr.. Rent in cities is $2500/$5000 month. Mortgages will easily be $4000/month especially for a home that was purchased during the boom.


If you don't get your health insurance from an employer, add that cost. Nobody said $250k was poor. It isn't wealthy in all parts of the country.


State colleges are running $25k/year at a minimum.
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$250,000 is 4 or 5 times the median household income in virtually any major metropolitan area in the country. What people who earn that sum of money choose to spend it on doesn't change the fact that it's a hell of a lot more than most people earn.

I understand that it may not "feel" like a lot of money to the people earning it, especially as compared to income above that level that may be taxed at the same rate. That's why I personally think we need more tax brackets at the upper end. I think it's stupid to lump everything over $250,000 or even $450,000 together under one tax bracket.
 
You make the most by using our infrasstructure the most you pay the most in taxes.


pretty simple stuff
 
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