of course not -- but the subject was Joe the Plumber. He certainly framed his question as one of self-interest rather than one of principle, so the question of misunderstanding ones self interest is applicable.
""I'm getting ready to buy a company that makes 250 to 280 thousand dollars a year. Your new tax plan's going to tax me more, isn't it?""
The answer to his question is A.) No, you're not buying that company. And B.) Yes, each dollar you made above 250K would be taxed at a 3% higher rate than normal, if you did. So $3,000 per $100,000.
Misunderstandings abound about economics. It does not mean all opinions flow from misunderstandings, but many are colored by them. Most people (regardless of their opinion on taxes and spending) do not realize that federal revenues as a percent of GDP are at 20 year lows. Which is not surprising, as taxes have been cut systematically over the years.
Yet people generally "feel" like the federal gov't is taking in more than ever as a percentage.
I now see why my post got downvotes. I was unaware that JtP as a specific situation was about mistaken self-interest (originally I thought it was solely about generic blue-collar appeal for McCain/Palin).
""I'm getting ready to buy a company that makes 250 to 280 thousand dollars a year. Your new tax plan's going to tax me more, isn't it?""
The answer to his question is A.) No, you're not buying that company. And B.) Yes, each dollar you made above 250K would be taxed at a 3% higher rate than normal, if you did. So $3,000 per $100,000.
Misunderstandings abound about economics. It does not mean all opinions flow from misunderstandings, but many are colored by them. Most people (regardless of their opinion on taxes and spending) do not realize that federal revenues as a percent of GDP are at 20 year lows. Which is not surprising, as taxes have been cut systematically over the years.
Yet people generally "feel" like the federal gov't is taking in more than ever as a percentage.