Apr
20
2009

WSJ Distorts Tax Rate for the Rich

Reading Wall Street Journal reporter Gary Fields' "point that a family making slightly over $250,000 doesnâ┚¬Ã¢”ž¢t necessarily feel all that 'rich' when it comes to facing a tax hike from Barack Obama," Matthew Yglesias (Think Progress, 4/17/09) dubs his story "The Not-So-Compelling Plight of the Somewhat Rich" and notes that "what the story doesn't do is put this issue in the appropriate context of what an increase in the marginal rate really implies": If you raise taxes on "people making over $250,000," that means an increase only in the 250,001st dollar and onward. It's not, in other words, as if […]