Seriously, Michael Steele, chairman of the Republican National Committee, said, "Trust me, after taxes, a million dollars is not a lot of money."
Friday, February 05, 2010
I looked it up on the interwebs and apparently the marginal rate on a million bucks is 35%. I'm probably doing this wrong (having never had to pay taxes on a million bucks) and there are contributers and spouses of contributers who know a thing or two about tax law so feel free to correct me. Anyway, let's suppose that after taxes you walk away with $650,000. That's about 10 times the GROSS (pre-tax) income of the median family of four in this country.
The Democrats need to make this quotation the most recognized public statement of the year. They need to use for everything from jobs creation and stimulus to health care to deficit reduction. Every time the Republicans (any Republican) says Democrats are out of touch or going against the national interest, they need to say, "The leader of your party is a shameless elitist who thinks millionaires are poor!"
Posted by Raised By Republicans at 2:43 PM