I see this has been answered several times already, but I'm not sure it has been laid out plain and simple:
The first $250K any American makes gets taxed at exactly the same rate. For everybody. It's the same for any value -- Bill Gates pays exactly the same tax rate on the first $50K he makes in a year as I do. The rates go up for successively higher values -- your first n dollars may not be taxed at all; then your next n dollars is taxed at a low amount, and successively higher. These bottom rates will not change no matter how much your total income is.
When they talk about raising the tax rate for people that make more than a certain value, they are talking only about taxes on the money OVER that value. So only your 250001st dollar gets taxed at the higher rate -- as will every other dollar you make on top of that. The tax rate for the rest of your money will not change at all.
The first $250K any American makes gets taxed at exactly the same rate. For everybody. It's the same for any value -- Bill Gates pays exactly the same tax rate on the first $50K he makes in a year as I do. The rates go up for successively higher values -- your first n dollars may not be taxed at all; then your next n dollars is taxed at a low amount, and successively higher. These bottom rates will not change no matter how much your total income is.
When they talk about raising the tax rate for people that make more than a certain value, they are talking only about taxes on the money OVER that value. So only your 250001st dollar gets taxed at the higher rate -- as will every other dollar you make on top of that. The tax rate for the rest of your money will not change at all.