Once again the Dems want to raise taxes on the "rich". So if you and your spouse earn $200k per year on ADJUSTED GROSS INCOME , meaning before any deductions, then you will pay a penalty for working hard and being somewhat successful.
This is bad policy and will not only hurt the individuals affected, many of whom are school teachers and fireman (middle class) but it will hurt the economy in general.
Rangel is only pushing this policy because he believes the dems will retake the whitehouse. Lets hope the voters realize that this will be the new tax policy if that happens.
Rangel Tax Hike
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