Rachel Maddow explains how raising taxes on incomes over $250,000 works.
If you can’t watch videos at work, what she’s telling us is that people who are freaking out about plans to raise taxes on those who make over $250,000, the hike will only effect the income over $250,000. So if you make $250,001, the higher rate applies only to the $1. ABC News and the New York Times are not making that clear.
Not only that, anyone who makes over $250,000 and doesn’t have the intelligence to hire an accountant to manage their money deserves to pay all the taxes we can squeeze out of them.