Economy: Economic News, Policy & Analysis - The Washington Post: ‘Let’s just step back for a second and look at what $150,000 pays for’

Economy: Economic News, Policy & Analysis - The Washington Post Economy News: Get the latest headlines and in-depth coverage of economic news, policy, analysis and more from The Washington Post.

'Let's just step back for a second and look at what $150,000 pays for' Apr 3rd 2012, 21:29 Here's a riff from Obama's budget speech today that I predict you're going to hear quite often over the next year: Meanwhile, these proposed tax breaks would come on top of more than a trillion dollars in tax giveaways for people making more than $250,000 a year. That's an average of at least $150,000 for every millionaire in this country -- $150,000. Let's just step back for a second and look at what $150,000 pays for: A year's worth of prescription drug coverage for a senior citizen. Plus a new school computer lab. Plus a year of medical care for a returning veteran. Plus a medical research grant for a chronic disease. Plus a year's salary for a firefighter or police officer. Plus a tax credit to make a year of college more affordable. Plus a year's worth of financial aid. One hundred fifty thousand dollars could pay for all of these things combined -- investments in education and research that are essential to economic growth that benefits all of us. For $150,000, that would be going to each millionaire and billionaire in this country. This budget says we'd be better off as a country if that's how we spend it. Read full article >>

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