Thursday, April 26, 2012

The definition of "wealthy" keeps dropping.

First it was tax increases for "Millionaires and Billionaires", then that got dumbed down to "the rich". Now the Democrat's bar for "those who aren't paying their fair share" is dropping even lower:

Boehner calls Obama's travel plans 'pathetic'. Lisa Mascaro, LA Times
Democrats want to tax upper-income earners -- those earning more than $200,000 a year or $250,000 for couples -- who are able to avoid certain taxes because they organize their income as small, so-called subchapter-S corporations. Those companies with fewer than three workers would be hit with the new tax.
This is in line with my prediction that the definition of those "not paying their fair share" will be any household with an annual income in excess $100K as the LibDems turn up the populism in an effort to convince the poor that the rich middle class is the enemy.

In this situation they're focusing on "S" corporations, small businesses with few employees. This keeps the taxes from falling on their own backs, for the most part.

Funny how that works.

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