How Many in Kingstowne Might Feel Obama Tax Rate Increase?
President Obama wants to raise tax rates on those making $250,000 or more.
President Barack Obama hopes to raise taxes on Americans making $250,000, or approximately the upper 2 percent of incomes across the country. There are no hard and fast numbers for the Kingstowne area on how many people make more than $250,000, but the latest IRS data available shows that nearly 950 households in Kingstowne's 22315 ZIP code filed tax returns showing adjusted gross incomes of more than $200,000, the highest level income category reported by the IRS. Obama's plan could raise $1.6 trillion in revenue over 10 years, partly by letting decade-old tax cuts on the country's highest earners expire at the end of the year, according to a report by the Associated Press. The president would continue Bush-era tax cuts for all except …
shannin
8:39 am on Monday, December 10, 2012
The reality is that 2 working parents making $250,000 in the DC area for a family of 4 is middle income--after paying for daycare, mortgage, and groceries there isn't a ton leftover because the cost of living in our area is so inflated. Fact: 250,000 in the DC area is the equvalent to making $150,000 in Oaklahoma. When considering who the wealthiest in the nation are--cost of living needs to be … more ›