Obama's massive economic recovery package enacted last year included about $300 billion in tax cuts over 10 years. About $232 billion was in cuts for individuals, nearly all in the first two years.

The most generous was Obama's Making Work Pay credit, which gives individuals up to $400 and couples up to $800 for 2009 and 2010. The $1,000 child tax credit was expanded to more families, and the working poor can qualify for as much as $5,657 from the Earned Income Tax Credit.

Taxpayers earning less than $200,000 a year will pay roughly $3.9 billion more in taxes—in 2019 alone—due to healthcare reform, according to the Joint Committee on Taxation, Congress's official scorekeeper.

The new law raises $15.2 billion over 10 years by limiting the medical expense deduction, a provision widely used by taxpayers who either have a serious illness or are older.

Taxpayers can currently deduct medical expenses in excess of 7.5 percent of their adjusted gross income. Starting in 2013, most taxpayers will only be able to deduct expenses greater than 10 percent of AGI. Older taxpayers are hit by this threshold increase in 2017.

Once the law is fully implemented in 2019, the JCT estimates the deduction limitation will affect 14.8 million taxpayers — 14.7 million of them will earn less than $200,000 a year. These taxpayers are single and joint filers, as well as heads of households.

They're not so good if they come from a Nigerian/Kenyan born Socialist Muslim President.

Well that one was just implied I thought. :p

No, the way you spin it taxes went down (this is a fantasy)
The way I spin it taxes went up (because they actually did)

Furthermore, I pretty much agree with this guy.
We're now in a 2 class society, we should just admit it.
http://finance.yahoo.com/news/Lets-Just ... 8&ccode=rd

Is that really a knock on how poor those 150 million are, or a verification that in this country you can achieve a great amount of success. I don't begrudge someone their success and wealth, no matter how extreme that may be. If you can make $200 billion for yourself next year, good on ya.

Ham

All of the ultra high earners I know did.
There's not a lot of old money in Silicon Valley is there?

Have a problem with how much money bankers make?
Become a banker.

Have a problem with the profits of oil companies?
Buy oil stock.

This is America, participate.

rabble rabble rabble class warfare rabble rabble

Zilla, did you go into teaching to make a lot of money and retire early?
No?
Well there ya go...the decisions we make have consequences.
I like my job and work hard to keep it. I'm sure your job is equally rewarding and fulfilling.
If I got fired tomorrow I wouldn't complain that the CEO still had a job.

Here's a shocking reality: CEO's and upper level executives are worth more than George the carpenter that works for them.
George can be easily replaced and often is.
When a company falls upon meager times people get fired...often the lowest earners go first.

My company laid off ~3500 people in the second 1/2 of last year alone.
It's called life and life isn't fair.

It's not the governments job to make it fair.

However, my point is not that CEOs and carpenters should make the same amount of money, but that CEOs who do their jobs poorly and lose money for their company should not be rewarded with astronomical bonuses. In that sense I believe they should be held to the same standard that I am. Do your job or get fired.

Is it your argument that CEO are a special breed of people who should be paid no matter how they do (or don't) do their jobs?

My point is it's not up to you, me or the government how much CEO's get paid for doing well or not.
That's up to their employer / board of directors / shareholders.

Get as outraged as you want, their compensation is most likely in a legally binding contract.
It's called business.

You're also pointing to rare and extreme cases. I mentioned my company shed over 3000 jobs last year...guess who was included?
the CEO, the CFO, the CTO and the chairman of the board.
They personally took responsibility for their performance and left.

I think you'll find that's a more common scenario than the other way around.