CNBC’s Maria Bartiromo made her mis-observation to the New York Post, who ran it under the headline “Barack’s Bite:”
The income tax is also in for a bump. Bartiromo says, “Right now [it] is 35 percent, Obama wants to take that to 39 percent . . . We’re talking about people who make over $200,000. That’s not rich. So it’s actually going to impact more people than you may think.”
Maybe if you’re a Financial Journalist for CNN.com $200,000 may not seem like much. But earning $200,000 a year puts you in the top three percent of all income earners in the US, the wealthiest nation in th history of the planet. Ratcheting up taxes for the top 3%? Maybe not a bad idea. But I’d rather see a flat tax with no deductions to truly level the playing field. And just as the easiest way to find new energy is to conserve it, I’d rather the government address it’s budget issues by slashing the corporate subsidies and conserving our tax dollars.