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You avoided the questions completely.. didnt even begin to address them.. lets continue to see if you addressed the new ones
Of course they do, they then go out and buy things that they demand, which is owned by the uber wealthy.. whalaa, you just made them richer.. bravo
Money in investments and savings have to re-enter the economy, if it doesnt, they wouldnt generate profits.. Its IMPOSSIBLE to make money without boosting the economy in some manner..
yes, its because people spend their money (which you just admitted) better than the government does...
Care to address the original questions yet?
Care to actually have an honest discussion about macroeconomics without injecting partisan bullish** into the conversation?
Supply-side econ/Trickle-down econ is a failed concept, and no evidence whatsoever exists that it's a worthwhile policy.
Read up on the Marginal Propensity to Consume, the Tax Multiplier, fiscal policy, and how it relates to economic expansion. I'm not going to explain to you why stagnant money has less of an affect on the economy relative to the exchange of money between consumers.
The over 65 crowd is really taking it in the A$$..........I got a double exemption for being over 65....Standard deduction of 12,700 plus 3 exemptions for me and wife was 12,075.........so I'm losing.
so a retired married couple would have had 16,200 plus standard of 12700 that equals 28,900....... now its replaced with just 24,000.
Wait until that TrumpCare kicks in and you have to pay vastly more for your health stuff....then you'll see the "benefits" of making billionaires more wealthy!
Current law: $85,100 taxable income
Proposed law: 90,000 taxable income
correct up to there
Current law: $180 on the first $18k (10% bracket); 8550 on the second $57k (15% bracket);...2525 on the remaining $10k (25% bracket)----$11255 in federal taxes
Proposed law: first 24k not taxed....24k through 90k 12%...so 66k taxed at 12%.....7920.....total tax owed....7920
3335 LESS in taxes
First 24k not taxed? Somehow this magically coincides with the proposed standard deduction. Are you double counting the standard deduction? If not post the source, please.
You're confusing me. Isn't it 114,000-24,000=90000x.12=10800? I still got a saving of 4000+.
the brackets are set up in steps...both currently and under the proposed
current brackets
\married
income 0-18,650..........10%
18,650-75,900.............15%
75,900-153,100...........25%
153,100-233,350.........28%
233,350- 416,700......33%
416,700-470,700.......35%
470,700+..................39.6%
under proposed 24k-90k is 12%
Current law: $180 on the first $18k (10% bracket); 8550 on the second $57k (15% bracket);...2525 on the remaining $10k (25% bracket)----$11255 estimated in federal taxes
there is NO 0% currently... for a married jointly the FIRST 18k...10%...next income over 18k through 75,900.............15%....the next income OVER 75.9k through 153k...25%
i1040 says If line 43 (taxable income) is—85,100....married jointly TAX IS 12,824
under the bill in congress
Proposed law: 90,000 taxable income....yep they will have 5k more in '''taxable income"'...but it will be taxed at a lower rate
Proposed law: first 24k(of taxable income)(line 43 or what ever the new line will be) not taxed....24k through 90k 12%...so 66k(90k-24K(zero bracket)) taxed at 12%.....7920.....total tax owed....7920
a SAVINGS of 4800...4800 dollars less in taxes for the new proposal
yes it can be confusing...I have been doing taxes for over 38 years
Ooh look, you avoided every question again.. I'm sorry, was 2 or 3 questions difficult for you?
here, lets start with one basic simple one..
How does someone invest to make more money, without taking money they currently have, and allowing it to enter the economy?
just give me one example of how that can occur.
Your previous reply had no additional questions; enough with the grandstanding.
Your question is irrelevant if nothing but an attempt at deflection. OF COURSE it enters the economy, the key point being is that it stimulates the economy less than had it been spent, say, at the local hardware store (by hundreds of millions of Americans, in contrast to a tens of thousands of ultra-wealthy investing off-shore).
AGAIN: Read up on the Marginal Propensity to Consume, the Tax Multiplier, fiscal policy, and how it relates to economic expansion. I'm not going to explain to you why stagnant money has less of an affect on the economy relative to the exchange of money between consumers.
the brackets are set up in steps...both currently and under the proposed
current brackets
\married
income 0-18,650..........10%
18,650-75,900.............15%
75,900-153,100...........25%
153,100-233,350.........28%
233,350- 416,700......33%
416,700-470,700.......35%
470,700+..................39.6%
under proposed 24k-90k is 12%
Current law: $180 on the first $18k (10% bracket); 8550 on the second $57k (15% bracket);...2525 on the remaining $10k (25% bracket)----$11255 estimated in federal taxes
there is NO 0% currently... for a married jointly the FIRST 18k...10%...next income over 18k through 75,900.............15%....the next income OVER 75.9k through 153k...25%
i1040 says If line 43 (taxable income) is—85,100....married jointly TAX IS 12,824
under the bill in congress
Proposed law: 90,000 taxable income....yep they will have 5k more in '''taxable income"'...but it will be taxed at a lower rate
Proposed law: first 24k(of taxable income)(line 43 or what ever the new line will be) not taxed....24k through 90k 12%...so 66k(90k-24K(zero bracket)) taxed at 12%.....7920.....total tax owed....7920
a SAVINGS of 4800...4800 dollars less in taxes for the new proposal
yes it can be confusing...I have been doing taxes for over 38 years
First 24k not taxed? Somehow this magically coincides with the proposed standard deduction. Are you double counting the standard deduction? If not post the source, please.
the deductions lines (40 std or itemized ded..line 42 exemptions (which will be eliminated)). come BEFORE your final TAXABLE INCOME
under the new proposal the BRACKETS don't start until 24k (MJ)
so 114k total income....minus 24k sts ded...equals 90k of taxable income.....
when you go to the brackets it is prorated ...just like currently...except currently the 10$ brackets STARTS at $1....according to the new brackets..the first rate (12%) starts at 24k
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