Certainly, that income sounds like a lot, but let?s break it down.

For a couple filing jointly that translates to about $103,708 after paying federal and state income taxes and Social Security and Medicare taxes. That does not include local taxes nor does it touch on property taxes, which subtract thousands more.

If you live in Baltimore City you will have to subtract twice as much for property taxes because rates are double those in the rest of the state.

Let?s then subtract $3,240 each month for the couple?s mortgage. That represents a halfway point between the 25 percent of income experts suggest people spend on housing and the more and more common 50 percent that many people pay. That takes the total real income down to $64,828.

And how about $8,000 per year in car payments for two modest cars and $2,000 in insurance assuming they don?t live in Baltimore City where payments would be twice as high. Now they?re at $54,828 a year being the standard of wealth.

Now let?s subtract home and cell phones, cable, heating and cooling, and gasoline and that brings us to about $42,842.

Then there?s food for four people per month, assuming the couple has two children, and no going out. That takes the remaining budget to about $35,042.

Then there is health insurance at about $500 per month, which takes the family of four down to $29,042.

Do they have a child in college at the University of Maryland? At $20,872 per year for tuition and other fees and expenses, that means they have $8,170 left for child care, clothes, extra curricular activities for them and their children, pets and emergencies. With that little discretionary income they can easily put off contributing to a retirement plan and saving. And unless they vacation in their backyards, they won?t be going anywhere or eating out. And if the public schools in their area are less than stellar, they will not be able to afford even the most affordable private school with the other obligations on their plate. Remember, that $8,170 does not account for local and property taxes.

Is this what O?Malley and some state legislators consider rich?

The governor and those who plan to hike taxes on those of us paying their salaries need a reality check.

Making $150,000 in no way pays for a life of luxury for a family of four.

And it is not “progressive” to tax residents at different income levels at different brackets. Those who make more already pay more since 4.75 percent (the state?s current income tax) of $100,000 is twice as much as 4.75 percent of $50,000.

Battering “the wealthy” may be good political rhetoric. But O?Malley?s definition in no way matches reality.

The ultimate reality is that burdensome taxes ultimately drive out the very citizens O?Malley most needs to exploit.

(CORRECTION: The income tax figure proposed by Gov. Martin O’Malley is $150,000 per individual. The calculations for this editorial are based on a household income of $150,000.)