Some Surprising Wisdom From MSNBC Prime-Time

Lawrence O'Donnell said something this week that made an extraordinary amount of sense. He said that the Democrats have made a very huge mistake in lumping folks who make $251,000 a year with those individuals that make tens/hundreds of millions a year. They're not, in his (or especially in my) opinion, even remotely comparable. The former group is a group that works and contributes mightily to society. And, yes, depending upon where in fact these individuals reside, they're not necessarily always wealthy, either (a lot of them still paying off student loans, etc.). Compare this, I ask you, to the latter group of people, many of them probably living off investments, estates, bloated corporate salaries, bonuses, etc...........................................................................................................Another excellent point that O'Donnell made is that this $250,000 template was derived back in 1993. When you adjust it for (reverse) inflation, this only adds up to $165,000 in 1993 dollars. O'Donnell feels (and I whole-heartedly agree with him) that had in fact the Democrats adjusted this threshold upward (my suggestion has always been between $300-400,000), they more than likely would have gotten much more in terms of public support....Oh well, it's all probably too late now, huh?..............................................................................................................P.S. This is not meant to imply that individuals who currently make under this threshold won't eventually have to pay additional taxes, too (for deficit reduction, infrastructure, etc.). They totally in fact might. I'm just talking in terms of this immediate discussion. That's all.