Does the fact that "The Rich" are paying more taxes make you feel better that we are too?
The President signed the bill. The Rich are now going to pay more income tax. Problem is, a few of them do not pay income tax anyway, they pay capital gains tax, plus the Congress did NOT extend the payroll tax “holiday”, so everybody, rich and not so rich, will be paying 2% more starting right now. The moral issue of taxing production aside, the rich will not miss a couple of more points in tax. You and me just might miss the 2 points that we are going to pay. Does everybody feel better now?