Trust me, after taxes, a million dollars is not a lot of money.
– RNC Chairman Michael Steele, demonstrating the core argument against allowing Federal income taxes to return to higher rates for those earning over $250,000: to wit, those poor people earning over $250,000 are being taxed to death and that is a threat to the average American. How many tea-baggers earn a million dollars (I mean other than the promoters, politicians and media personalities that encourage the movement)?
Median household income in the US: %52,000. Percentage who earn over $250,000: 2%
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