Paul,

Taxable income vs gross income are two different animals. If the gross income is $250K with deductions taxable income is less. Taxable income is the income taxed.

Mr. Roberts - I must say that this is one of the few times that 1) I disagree with you, and 2) I am providing support for Obama's side of the argument. Your argument is too conditional as it factors in things that are difficult to measure and difficult to standardize and apply across a population or sample. Yes, certain areas are more expensive to live, but then again, income in those areas adjust naturally over time (if they haven't yet done so). So even those earning $250,001 in NYC will likely over time see an adjustment in their income .. OR ... if not, the resultant much lower consumer spending will force an appropriate price adjustment which will also lower overall cost of living. Although I don't agree with any taxes on our income (completly different topic), I must say that obama is viewing it the right way if he wants to properly implement a tax strategy. And actually, it appears that the #s that he is spewing out are in fact conservative. Based on the 2005 US consensus bureau figures, households making over $250k represent only 1.5% of total households in the US. Just fyi ... $200k to $250k households represent only 1.2% of US households.

I say 1) stop spending $ on useless things 2) either lower or do not tax income, and 3) with lower govt spending, lower tax revenues will do and only sales taxes will cover those ... of course with the 'stimulus', the bailouts and the recently approved budget, it doesn't look like any of that will take place. But I must also stress that lets all work and hope for the best (unlike Limbaugh hoping for the worst). And I am a TRUE Republican (not a neocon ... most of whom were actually the most liberal conniving politicians historically from where they originated - Russia and the UK). didn't take them long to literally destroy the Republican party.