You do not fall under the category of upper class at 80k.
There is no one accepted income definition, but it tends to be above at least 100k, as much as 200k, or is based on assets (over 1 million).
I don't think national policy should be set on anecdotal (personal) stories, but since you are talking about your own situation; I have to wonder, if you make good money with Citi, why are you still working as a mechanic? What good does the extra income do you if you never have any free time to spend it?
I don't mean to make this personal though.
If you choose to work 80 hours a week, that's your business.
I would not be opposed to a tax structure that takes # of hours worked into account.
Also, as I pointed out in my (admittedly exaggerated) example, even with a highly progressive tax rate, you still end up with more money even if you pay a higher percentage. It always pays off to make more. So you do get the difference. Just not 100% of the difference.
If you are working hard to earn your money, that makes you working class. Bush Jr. reduced the tax on capital gains to 0%.
Which means you end up paying far more of your hard earned 80k than the upper 1-5% of society which doesn't produce anything at all.
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Quote:
Originally Posted by Piwoslaw
A few months ago I returned home just as my neighbor pulled into his driveway. It was cold (around freezing) with some rain and sleet, and he yells to me: You rode your bike? In this weather?!?
So the other day we both returned home at the same time again, only now the weather is warm, sunny, with no wind. And I yell to him: You took the car? In this weather?!?
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