Check out the tax rate for 2 people making $140,000 with a dependant child. I don't beleive you'll get your taxes raised - I believe it is one person making over $112,000 with no dependents. Also, capital gains tax will only be raised for those people in the $250,000 dollar bracket, not the rest of us who are actually losing money on the stock market right now :)

I find it insulting and amusing that people in this country say they can't by on $118.000. and less.. You mean to tell me that if you were given an income of say, $75.000.00 for the year, with a husband, 2 kids and a dog, you couln't make it?
Then you have some very poor money mgmt skills.

I was married and we lived on an income far less than that, and we was happy and content. My children played sports, we ate meals, three meals, daily. We didn't have 100.000.00 cars or live in a 12 bedroom house. But we managed.

I'm a single mother now, and live on one income with three children. Could it be better? Oh yes, are we going hungry or cold? No. I think Americans think they should live like all the rich and famous people. Put the credit cards away, stop buying 200.00 jeans for your spoiled kids and make them work.
And yes, I'm an American, born here. But, I've also raised my kids to know exactly what a dollar means, and how far it will take you.

You are "barely" getting by on a $140,000 yearly income?! My husband and I live in CA (more expensive than NJ) and we only gross about $72,000 annually, which we actually think is pretty decent compared to friends and families incomes. How's THAT for barely getting by? We have TWO kids to your ONE!!! I would LOVE to be making your income of $140,000, which would have us practically living in the lap of luxury. You are way above the average household income. Some people don't realize that they are MUCH better off than others in this world and yet are still complaining...

Your point is right on. This is what I keep telling Obama supporters, and if your lucky enough to make 2.9 million you will see your taxes go from $957,000 to $1,658,885 under Obama. This makes me wonder if it is worth it to try to make more money only to give it to people who don't pay taxes anyway.

I wish an average couple in Wisc. could pull in 112,000.00 a year..I don't even get medical benifites or any thing else and barley squeeze 30,000.00 alone. And I am in a managment position.

You need to economize and not throw your money away. Why don't you calculate all the perks you spend your money on. You must be one of those that wants to keep up with the Jones.
$140,000 and you think your poor. You must be kidding me.

For those who don't live in Minnesota should just keep their mouth shut. MN ranks in the top 10 in overall tax burden and has the same cost of living as places like Ft Lauderdale. I have lived in NJ, it is expensive, but salaries are generally higher than places with lower cost of living. Besides, if you don't like it there, try moving to someplace cheap, like So Cal.

Move!

This is true. People in the government earn over 200,000 dollars a year and by obamas standards they will be taxed and 95 percent of people earn under 200000 thats a big percentage and part of the 5 percent our people in the government and the extremely rich. Joe the plumber has to do with the amount HE makes not the companys balance thank you for listening. you have a nice day

You don't get it. The 112K and below figure is the point at which you get a BIGGER tax CUT under Obama than McCain. At 140K you still ge a tax cut under Obama, just not as big as McCain's.

You need to look into what your taxable income is, not your gross income, with average deductions and exemptions you may have less than $100,000 taxable income. The article is right, it would be nice to see a calculator work through individual details.

Ha! You're pampered and spoiled as sin. Lady, sir, whatever you are. I live in NJ too, you have it made in comparison. Step into my world where our combined annual income is only $38,000 and my income alone is $16,000. OMG, you'd probably have a Paris Hilton style meltdown if actually learn what real poverty was.

Don't come whining on the internet about your 6 figure income. People like you who have silver spoons in your mouths make me sick.

Wow, you must be practicing the black arts, if 1/3 of your income is from the market.

You mean 1/3 of your income CAME from your stocks - probably not anymore!

So what you are saying is...go ahead and penalize people for making to much money in a capitolistic society?

I think it is time for CHANGE. I dont know about you but the shape of the economy right now scares me. We need to CHANGE things now so when our children get older the economic state of this counttry is better then it is right now. Vote Obama

How do you defne overly rich? Is ths a person who does not work or has never worked. I just do not understand who you are trying to take money from.

I readly admit that my wifee and I make a good living and pay our fair share of taxes. I am also proud to say that we started out in rural Applachia, worked our way through school, and created careers based on working 60-70 hours plus a week to achieve a level of success. So I do not believe that you can define overlly rich by the income a person makes nor should we reach into the pocket of people have worked hard to make sure that ther famlies have some extra money, can live in a nice house, and pay their bills can susidize indviduals who make other choices.

The change that needs to occur is not based on raising taxes over a magical ncome level and shiftng the earnings through tax reductons to other people who make less. We need to examine the tax code to make sure everyone pays their far share by closing tax loopholes and capturing all income.

I have to say I am disappointed in both candidates. Neither Mr. Obama or Mr. McCan have shown a vision for this country or the true leadership that the United States needs to address the challenges that we face to ensure that we remain that beacon of light and hope for the world. Instead they both have espoused pollitics of divisiveness with a present under their first presidential christas tree for each of ther political bses and not straight talk or a vsion of change that we need to get America back on track again.