16 Jan 2013: Pity the Rich
Posted by: Frank Moraes
This image comes via Matt Yglesias. Apparently, the Wall Street Journal is highlighting the plight of those poor souls with six-figure incomes. Because of the Fiscal Cliff deal, they are paying more in taxes. Here is their infographic:

Note here that the single woman and the single mother are paying 1.3% extra in federal taxes. But people making $35,000 are paying 1.4% extra in federal taxes. But you have to put this information in the Wall Street Journal context: those with six-figure incomes matter.
Pity the rich, for in this world they have no voice. Except, you know, every fucking politician and media figure in America.

Note here that the single woman and the single mother are paying 1.3% extra in federal taxes. But people making $35,000 are paying 1.4% extra in federal taxes. But you have to put this information in the Wall Street Journal context: those with six-figure incomes matter.
Pity the rich, for in this world they have no voice. Except, you know, every fucking politician and media figure in America.

JMF wrote:
Now, to me, 260K/year is obscenely wealthy (and you don't make that kind of money unless you do something obscene to earn it, most likely.)
Still, I've known one or two people who went from poor to rich, and an interesting thing happened to them. As part and parcel of their new lifestyle, they entered a new social circle, and it came with new social obligations. That meant more money being spent on living quarters, cars, schools, memberships, restaurants, vacations and the like.
You can't, apparently, make 260K a year and live like you make 35K. Part of it is vanity, wanting to impress your new friends. Another large part, I understand, is work-related. You're expected to socialize with at least some of your co-workers (or you're an odd duck), and you can't do so if you don't value their interests by emulating or aspiring to them (or you're an odd duck.) And odd ducks don't last long at lucrative mid-level jobs.
So, in order to keep making money, you have to be spending it as well. Which can make "Journal" readers feel as though they are truly squeezed by taxes (even though they aren't.) Hence being able to print an illustration like the one with the "single parent" (making 260K) whose children seem oh, so very sad, and not having gales of laughter blow away your newspaper headquarters.