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There was a tax credit in the last economic stimulus that gave a boost to the figure that everyone is quoting.
A lot of people at both ends of the age spectrum are going to fall below the zero bracket amount. There are a lot of retirees that spend down assets, especially when interest rates are extremely low. Since there's a demographic bulge at both ends, millenials and boomers, it's going to inflate the tax-free figure.
There are also ways for the wealthy to accept earned income in a manner that leaves the realized capital gains income at the zero tax rate.
There was a tax credit in the last economic stimulus that gave a boost to the figure that everyone is quoting.
A lot of people at both ends of the age spectrum are going to fall below the zero bracket amount. There are a lot of retirees that spend down assets, especially when interest rates are extremely low. Since there's a demographic bulge at both ends, millenials and boomers, it's going to inflate the tax-free figure.
There are also ways for the wealthy to accept earned income in a manner that leaves the realized capital gains income at the zero tax rate.
Couldn’t a retired married couple (hypothetically) who are in a low 10 or 15% tax bracket essentially pay zero capital gains if their AGI was sufficiently low enough?
We have a big distortion of entitlement programs: needy citizens get nada but newly arriving get huge "settlement" amounts, along with welfare (and no questions) for five years.
That's why Canada with a small population is probably going to be the "great experiment" with a GUARANTEED ANNUAL INCOME. we'll keep you posted.
The idea is that you don't need hundreds of thousands of Federal AND STATE employees to pronounce from upon high whether you're qualified or not. And what you do with the money is now your business. The weird thing is that this "movement" is coming as hard from the conservative right as and academic hippie earth mother left.
And it all goes right back into the economy anyway, for food, clothting, pots, and POT. WIN/WIN/
Of course there is motivation - to make more money. And rich people do it every day.
Do you get the contradiction, or would you like me to explain it?
Confiscating someone’s wealth because you believe they aren’t using it properly is incredibly immoral. What is wrong with you?
You are panic stricken at the suggestion that greed is not a moral justification for wealth, aren't you? No, rich people do not create jobs. Large corporations have never been job creators, and things are getting even worse with the rise of the robots and automation. Jobs are created by people who start businesses and run them. Think small cap to mid cap, the very businesses that are vulnerable to takeover by the vulture capitalists who destroy jobs.
With great wealth comes great responsibility, Grasshopper. Society has no responsibility to maintain the lifestyles of the unproductive wealthy. The most peaceful way we have ever found to take money away from the unproductive is a high marginal income tax rate. Building a business is tax free. If you want to keep your money, get to work. It's easy to tell if income is being productive or not. The remnants of capitalism still exist within our tax code.
All we need to do for America to return to prosperity is to adopt the 1950 tax code. The weath of our nation has been siphoned off by a bunch of bean counters and leeches. Society has a vested interest in limiting their damage.
We have a big distortion of entitlement programs: needy citizens get nada but newly arriving get huge "settlement" amounts, along with welfare (and no questions) for five years.
That's why Canada with a small population is probably going to be the "great experiment" with a GUARANTEED ANNUAL INCOME. we'll keep you posted.
The idea is that you don't need hundreds of thousands of Federal AND STATE employees to pronounce from upon high whether you're qualified or not. And what you do with the money is now your business. The weird thing is that this "movement" is coming as hard from the conservative right as and academic hippie earth mother left.
And it all goes right back into the economy anyway, for food, clothting, pots, and POT. WIN/WIN/
That was one of George McGovern's proposals during the 1972 presidential election campaign. He pointed out that it would save the federal government a lot of money to just provide an income floor through the IRS and close all the social service offices. He was a little ahead of his time. We ended up with Tricky Dickie again.
But I thought Obamacare was going to solve these problems? Don't you remember?
* Average family will save $2,500 per year
* Costs will be under control.
* Everyone will be covered.
* Like your doctor? Like your healthcare plan? You can keep it!
Guess that didn't work.
For millions of people it did. The self employed and those with pre existing. (Let me, guess you were furnished insurance by a 'job" Ever bought insurance on your own. Yeah thought so. Biggest complainer regarding Obama care and know the least about it.)
I did not recieve Obamacare (payments)Too much income. But was able to buy better insurance because of the restrictions imposed by it.
Early on each state was to have a not for profit insurnace. I joined that. I got my meds free, allergy shots were $1.50 (from $21.00 old crappy UHC insurnace) and my co pays were $10.00 as opposed to $65.00 plus.
We easily saved over $2,500.
Liked my doctors, kept them. HATED my healthcare plan, good riddance.
Do you know one of the best things out of Obamacare was the insurance companies actiully had to pay for coverage and not just pass hundred's of million on to the CEO. No of course you didn't.
Last edited by foundapeanut; 03-08-2018 at 09:58 AM..
Depends how you define failed. One of it's primary stated goals was getting the people without insurance insured, and their certainly are far fewer people without health insurance. Public opinion also seems to have turned to where most ended up opposing a repeal.
Certainly lots of flaws that need to be addressed, but just calling something "failed" that is still functioning and still insuring millions isn't really an accurate description.
Bravo! He probably gets his insurance through a job, so that is his frame of reference. Employee don't know what they are taking about when it come to Obamacare, just ignore them.
As someone whose been buying health insurance for a business for 20+ years, I'll take these clowns on anyday. Not once have they proven to know what they are taking about.
Here's who to blame, the insurance companies and their greed.
Keeping your doctor was always between you, your doctor, and your insurance company. Nothing changed. If you decided to change insurance companies or your doctor decided to not contract with your insurance company, that had nothing to do with Obamacare.
While it's true that Trump is doing what he can to screw up American's health insurance, the Republicans in congress were messing with it while he was still a TV game show host. The biggest thing was when Congress refused to fund the catastrophic loss fund for insurers. That threw a wild card into their actuarial tables, and forced them to raise premiums to cover possible losses, which might never materialize.
Despite congressional interference, by 2015, Obamacare had tamed premium inflation to 4.3% a year, and some markets actually saw declining premiums. Compare that to this year's 18% increase, which you really can blame on Trump.
I agree that it would have been great to ram single payer down the right winger's throats and put the whole health insurance industry out of business, but that was the Clinton plan and it failed. I don't think even Obama could have pushed it through. The fact that he accomplished any health care reform at all was a major political miracle.
BRavo, wish I couod rep you a million times over!
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