Another TeaParty myth debunked....

Imagine my surprise...Another teabagger myth debunked.....

Wealthy Say Higher Taxes Haven’t Hurt Spending, Investing
Classic Anti-Tax Argument Gets Debunked

Before Jan. 1, many warned that taxing the wealthy would snuff out the recovery. If the wealthy had to pay more taxes, they would spend less, invest less and give less to charity. So far, it doesn't seem to be happening—at least not on a large scale.

According to a new poll, a majority of people making $500,000 or more (those paying the higher income tax rate) said that the tax hikes have not impacted their spending, charitable giving or investment strategies.

The Shullman Luxury and Affluence Monthly Pulse found that 55 percent of people making $500,000 or more said higher taxes have not impacted their spending plans. Fully 61 percent of those making $250,000 or more said taxes have not impacted their spending plans.

http://www.cnbc.com/id/100597323

Of course, none of it is "trickling-down"...But isn't it nice to know it "isn't affecting their spending plans."

LadyJazzer wrote: Imagine my surprise...Another teabagger myth debunked.....

Wealthy Say Higher Taxes Haven’t Hurt Spending, Investing
Classic Anti-Tax Argument Gets Debunked

Before Jan. 1, many warned that taxing the wealthy would snuff out the recovery. If the wealthy had to pay more taxes, they would spend less, invest less and give less to charity. So far, it doesn't seem to be happening—at least not on a large scale.

According to a new poll, a majority of people making $500,000 or more (those paying the higher income tax rate) said that the tax hikes have not impacted their spending, charitable giving or investment strategies.

The Shullman Luxury and Affluence Monthly Pulse found that 55 percent of people making $500,000 or more said higher taxes have not impacted their spending plans. Fully 61 percent of those making $250,000 or more said taxes have not impacted their spending plans.

http://www.cnbc.com/id/100597323

Of course, none of it is "trickling-down"...But isn't it nice to know it "isn't affecting their spending plans."

Yea it is. Instead of you and the rest of the left "sticking it to 'em" and rubbing their noses in the "spread it around" garbage, they instead gave ya'll the finger. I'm thrilled.

Myth debunked? Myth is factual
I am not in the 250K bracket, but I am in the 100K bracket and I have adjusted my spending & investment decisions for this year because of the higher capital gain taxes. I divested some high gainers last year to avoid increased taxes this year and I have limited purchases for this year.

Even the Colorado state tax bureau admits many of the increased receipts this year are because dividends were awarded in December 2012 instead of January 2013 to avoid taxes.

And since we are still in the first quarter, it is a little early to say the increased capital gains taxes have no effect on the spending and investing for the 1%. Only about 10 weeks in.

And I noticed you didn't include the results of the increase in the Social Security withholding...

Jekyll wrote:

LadyJazzer wrote: Imagine my surprise...Another teabagger myth debunked.....

Wealthy Say Higher Taxes Haven’t Hurt Spending, Investing
Classic Anti-Tax Argument Gets Debunked

Before Jan. 1, many warned that taxing the wealthy would snuff out the recovery. If the wealthy had to pay more taxes, they would spend less, invest less and give less to charity. So far, it doesn't seem to be happening—at least not on a large scale.

According to a new poll, a majority of people making $500,000 or more (those paying the higher income tax rate) said that the tax hikes have not impacted their spending, charitable giving or investment strategies.

The Shullman Luxury and Affluence Monthly Pulse found that 55 percent of people making $500,000 or more said higher taxes have not impacted their spending plans. Fully 61 percent of those making $250,000 or more said taxes have not impacted their spending plans.

http://www.cnbc.com/id/100597323

Of course, none of it is "trickling-down"...But isn't it nice to know it "isn't affecting their spending plans."

Yea it is. Instead of you and the rest of the left "sticking it to 'em" and rubbing their noses in the "spread it around" garbage, they instead gave ya'll the finger. I'm thrilled.

So am I !! If they're making it, more power to 'em... And we can stop worrying about their spending habits being affected by a lousy 4.6% increase. Glad to hear you agree.

Fred, I don't see how you would see increased capital gains tax since you are under $250K.

The increase from 15% to 20% for long term capital gains only applies to those making over $400K or so. And the additional Obamacare investment tax of 3.8% only applies to married couples making over $250K.

That poll is pretty dumb though, since we are only three months into the year and the first quarterly tax payment even aren't due yet.

For those making over $400K capital gains would be a huge issue since it would go up for them by over 50% (from 15% to 23.8%). They'd be a fool not to do anything about it. The problem is it's too late now since the new rates are already in effect effective 2013. They should of done something last year if they were going to do anything.