http://blogs.reuters.com/james-pethokoukis/2010/07/26/bernanke-right-geithner-wrong-on-bush-tax-cuts/ Politics and policy from inside Washington Sun, 07 Apr 2013 21:23:48 +0000 hourly 1 http://wordpress.org/?v=3.4.2 http://blogs.reuters.com/james-pethokoukis/2010/07/26/bernanke-right-geithner-wrong-on-bush-tax-cuts/comment-page-1/#comment-8560 CDNrebel Mon, 26 Jul 2010 20:36:46 +0000 http://blogs.reuters.com/james-pethokoukis/?p=4244#comment-8560 Yawn. Why do rich need tax cuts? So they can buy stock/bonds/treasuries and sit on it? To incentivize becoming ultra-wealthy in the first place? So they can spend more on ultra-wealthy gadgets, villas and trips - often OUTSIDE of America? I haven't really ever heard a compelling reason for tax-cuts for the rich... but I think I disagree on what the level of 'rich' is: $250k/yr for a working couple is not rich. I would argue the bar needs to be set at $1m/yr for a working couple, $400k/yr for singles. Times have changed and the levels of what constitutes 'excessive' wealth deserving of a higher tax rate need to change with it. Thoughts? Yawn. Why do rich need tax cuts? So they can buy stock/bonds/treasuries and sit on it? To incentivize becoming ultra-wealthy in the first place? So they can spend more on ultra-wealthy gadgets, villas and trips – often OUTSIDE of America? I haven’t really ever heard a compelling reason for tax-cuts for the rich… but I think I disagree on what the level of ‘rich’ is: $250k/yr for a working couple is not rich. I would argue the bar needs to be set at $1m/yr for a working couple, $400k/yr for singles. Times have changed and the levels of what constitutes ‘excessive’ wealth deserving of a higher tax rate need to change with it. Thoughts?

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