Obama lowered it to $200,000 in his campaign ad:Then Biden lowered it to $150,000 in this interview:I wonder if he’ll lower it to Clinton’s definition of wealth:
Back in 1992, Bill Clinton also campaigned for a “surcharge” on millionaires. Cut to February 1993. Here is the lead sentence in the Reuters story about his first big economic speech after winning election: “U.S. President Bill Clinton’s plan to seek higher taxes from everybody making more than $30,000 a year means even George Bush underestimated how far Clinton would take tax hikes if elected.” His tax proposal ended up slapping his “millionaire surcharge” on anyone who earned more than $250,000.
If this is a campaign promise that is set in stone and isn’t going to change, then you would think they’d remember the amount. You could understand Biden flubbing it (that seems to be his job), but in their campaign commercial??? Evidently it’s a pretty fluid number.BTW, Obama is knowingly misleading the public (in other words lying) when he says that those making under
$250,000…er…$200,000 won’t pay a penny more in taxes because he knows that when Bush tax cuts sunset in 2010, we’ll all be paying higher taxes since we’ll be paying at the higher 2000 rate. You can calculate your rate here, compare it with what you’re paying today. Geraghty ran the numbers for a couple making $60,000 filing jointly, they’ll end up paying close to $3,000 more. We’re not rich but we’ll be losing a couple thousand dollars in 2010. So much for only 5% paying higher taxes.