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Originally Posted by Perry Winkle
The government.
Luxury, sales and estate taxes are a few. Another is income.
There are several tax brackets below $250k. Those people are at different levels of "not top earners." Everyone above that is a "top earner." But there is a huge difference between the couple of doctors that is bringing home $250k per year and the people bringing home $1M (and $10M, and $100M, etc).
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Which is why your and the governments $250k number fails.
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Making $250k per year where I live (Helena, MT) is an incredible living, in Manhattan it is still a damn good living.
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Is that a joke? $250 might get you a 900 sq ft apt
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On the other hand, while $50k per year in Helena is a good living it's much harder to live on in Manhattan, and the quality of life is much lower.
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Depends on your definition of "quality of life".
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I really think Federal and State income tax rates should vary by where you live as well as by income.
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BS. Everybody should pay a percentage of their income. If you 10k a year and if you make 500k a year, you should pay a percent.