I really thought that Joe Biden's slip during the debate when he talked about taxing individuals making over a million indicated that the million-dollar-number was going to be the magic number for compromise when it came to avoiding the fiscal cliff. I was wrong, it's $450,000 for a couple. While not the $250,000 number the President claimed it would be, it's also not the million-dollar number.
Why bother addressing the incorrectness of my guess (which I indicated was a guess)? First accuracy, and secondly because there are a lot more people who will pay higher taxes based on the inclusion of those earning more than $450,000 (for a household)than there would be of those earning more than a million for a household.
Of course, using that same logic, there would have been a lot more collected if the threshold had been $250,000 than those earning above $450,000, maybe even enough projected revenue to have saved everyone from the increased payroll tax!
