Are You Rich?
We learned Monday that the Central Planners have proposed a $3.8 trillion budget, with $2.0 trillion of tax increases, $1.0 trillion coming by increasing income taxes on families who earn more than $250,000. For those of you earning $250,000 in your families, which is about $125,000 after taxes using current tax rates, I ask you the question, are you rich? You are paying $1,200 a month in health insurance, paying $40,000 a year in college tuition with no scholarship help because you make too much money, and had 40 percent of your stock investments and 20 percent of your real estate investments wiped out the past three years. You pay three times as much in real estate taxes on the same home you lived in ten years ago. Are you rich? You work for a firm that could downsize or go bankrupt at any moment. Are you rich? Government tax revenues decline due to economic recession, and government spending increases because that is what Central Planners do under the guise of stimulating the econom