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Sanders has already presented his plan for the middle class. It's the same as today. The top marginal rate goes back to the level under Ronald Reagan of 52% and wont kick in for income below $10 000 000. The cap on income subjected to payroll tax is lifted above 250k, but is still capped between 118k and 250k. So the people earning over 250k will under Sanders pay the same rate as the middle class. Private health insurance premiums will no longer be necessary as an extra 2.2% medicare-for-all premium will be introduced instead, saving the average middle class family thousands.
Sanders has already presented his plan for the middle class. It's the same as today. The top marginal rate goes back to the level under Ronald Reagan of 52% and wont kick in for income below $10 000 000. The cap on income subjected to payroll tax is lifted above 250k, but is still capped between 118k and 250k. So the people earning over 250k will under Sanders pay the same rate as the middle class. Private health insurance premiums will no longer be necessary as an extra 2.2% medicare-for-all premium will be introduced instead, saving the average middle class family thousands.
Now, instead of rattling off stuff on a Sanders campaign brochure, what will his plan REALLY encompass? It was only last year that he said 90% income tax on the highest earning individuals wouldn't be out of line...
Now, instead of rattling off stuff on a Sanders campaign brochure, what will his plan REALLY encompass? It was only last year that he said 90% income tax on the highest earning individuals wouldn't be out of line...
Nope, you have completely misunderstood. He was talking about MARGINAL income tax rates under the REPUBLICAN Eisenhower, which was more than 90%, as a way to put the absurdity of today's debate into context, where the rich and their bootlickers whine about being taxed to death.
He has dismissed the idea of a 90% marginal rate time and time again. This was from last summer:
Sanders has already presented his plan for the middle class. It's the same as today. The top marginal rate goes back to the level under Ronald Reagan of 52% and wont kick in for income below $10 000 000. The cap on income subjected to payroll tax is lifted above 250k, but is still capped between 118k and 250k. So the people earning over 250k will under Sanders pay the same rate as the middle class. Private health insurance premiums will no longer be necessary as an extra 2.2% medicare-for-all premium will be introduced instead, saving the average middle class family thousands.
And yet the left somehow believes we can raise TRILLIONS OF DOLLARS by not raising taxes, or even odder 2.2%.. which over a 13 trillion dollar economy, comes out to about $400 billion a year...
Yeah, he's not math challenged and neither are his supporters..
And yet the left somehow believes we can raise TRILLIONS OF DOLLARS by not raising taxes, or even odder 2.2%.. which over a 13 trillion dollar economy, comes out to about $400 billion a year...
Yeah, he's not math challenged and neither are his supporters..
I don't see where 2.2% comes from. Sanders wants to raise the top marginal rate from 39.5% to 52%.
And yet the left somehow believes we can raise TRILLIONS OF DOLLARS by not raising taxes, or even odder 2.2%.. which over a 13 trillion dollar economy, comes out to about $400 billion a year...
Yeah, he's not math challenged and neither are his supporters..
Quote:
Originally Posted by pghquest
Not enough to pay for his social spending.. keep going..
Quote:
increasing the top income tax rate to 50%, from the current 39.6%, would only bring in an additional $96 billion in tax revenue
...
Sanders would impose a 0.5% fee on stock trades, 0.1% fee on bonds and a 0.005% fee on derivatives. This would raise up to $300 billion a year, according to Warren Gunnels, his policy director, citing a 2012 University of Massachusetts Amherst report. Free college and healthcare for all - how would Bernie Sanders pay for it? - Oct. 16, 2015
There's your $400 billion a year.
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