Time to stop insisting on tax cut extension for the millionaires; 12 years is enuff
Hope you realize that it refers to AGI, i.e. after all sorts of tax deductions, typically 20% of gross income. In addition, only the amount greater than $250K AGI is taxed higher, the first $250K AGI will be taxed just like a family with $240K AGI.
i hear you, but you said millionaires and people with 250k AGI are not millionaires are neither are two people who make 125k AGI...that's the bottom line..you people are saying millionaires when they aren't...they are simple middle class people...
If your tax return shows over $250K AGI, it is a very good bet that you are a millionaire.
Many in Silicone Valley and Manhattan said they are hard pressed to feel rich making $250K AGI annually, yet, they live in homes priced well over $1 million and usually have gardeners and domestic help.