How Low Can We Go? (UPDATED)(Again)

Posted: October 28, 2008 in Politics

“Spreading the wealth was not–he was talking about is all of the tax breaks have gone to the very, very wealthy. For example you have right now, this year, under the old tax policy that was just — that was put in by George Bush, people making an average 1.4 million a year, good people, decent people, patriotic — they’re going to get an $87 billion tax break. What we’re saying is that $87 billion tax break doesn’t need to go to people making an average of 1.4 million, it should go like it used to. It should go to middle class people — people making under $150,000 a year.” (Joe Biden, Interview With WNEP Scranton, 10/27/08)

Oh boy! So far (as expected) I’ve seen folks rationalize the concept of wealth redistribution. I can’t wait to see how this apparent change from $250k to $150k is going to be justified.

Or is this ol’ Joe gaffin’ it up again?

**UPDATE**

This $150k number is now touching middle/upper-middle class deeper.
I just did a quick search on census.gov to check on salaries in the Black community. Blacks making OVER $100k. According to this chart (2007), the $100k crowd is quite significant.

If anybody has any other charts or data that spell out salaries in the Black community, please share.

**UPDATE**

I just found this over at time.com. This was an article written back in June of this year.

“For now, he and his advisers are reciting the details of his three big short-term priorities: a new $50 billion stimulus program, much of it routed into extending unemployment insurance beyond the current 26-week limit and helping struggling state governments; a more aggressive foreclosure-prevention effort, with $10 billion in funding; and a tax cut for Americans making less than $150,000 a year — to be financed with tax increases on those making more than $150,000 a year. (more…)

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Comments
  1. JustSaying says:

    From that brief little snippet I could only conclude that a) it was a “gaffe” and he really meant to say $250k OR it’s actually a bit more info about Obama’s real plan. Not a change…but just more info. Remember Obama’s been saying rather clearly that people making over $250k will not see an INCREASE in their taxes. He had not been promising a DECREASE in taxes…maybe not until now. Joe’s let the cat out of the bag so, now they’ll be a whole lotta spinnin’ and explainin’ to do between now and 11/4

  2. Duane says:

    Is this also a gaffe?

    Straight from Obama’s mouth (no snippets–just straight from his campaign)

    According to him, anybody making under$200k will see a tax cut.

  3. Wil says:

    Once again, whatever the amount, this is taxable income not net income. Some people who make tons of money pay very little in taxes because of how they structure their affairs

  4. Before Gore, Kneel says:

    Bill Richardson knocks Obama’s threshold number down to $120,000 today…

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